EXECUTIVE SUMMARY 3

ECONOMIC PROSPECTS DIFFER MARKEDLY 4

  A. Uneven Vaccine Access and Policy Support are Driving Gaps in Prospects 4

  B. Low Productivity and Climate Change are Weighing on Sustainability 9

  C. The Growth Outlook is Highly Uncertain, and Risks are on the Downside 11

COOPERATION IS NEEDED ON MULTIPLE FRONTS 12

  A. Act Together to Save Lives Now 12

  B. Multilateral Solutions are Critical for Strong and Sustainable Growth 13

ADJUST MACRO POLICIES FOR STRONGER GROWTH 16

  A. Domestic Policies Should be Targeted at Growth and Inclusion 16

  B. Implementing Policy Recommendations Would Smooth the Path Ahead 21