The COVID-19 Delta variant has weakened economic recovery in most rich nations, according to the International Monetary Fund.

The organisation cut its 2021 growth forecast for advanced economies – in particular, the US, Japan and Germany.

Notably, it expects America to grow by only six per cent this year, down from the seven per cent initially forecasted in July.

The IMF expects most advanced economies to return to their pre-pandemic growth trends next year as supply chain issues ease.

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