December 20, 2021
1 min read

IMF projects 6.6% growth for B’desh

The International Monetary Fund (IMF) has forecasted a 6.6 per cent GDP growth for Bangladesh in the current fiscal year 2021-2022 (July 2021-June 2022)…reports Asian Lite News

The projection came after an IMF staff team, led by Rahul Anand, visited Dhaka from December 5-19, reports Xinhua news agency.

“Despite being hit by multiple waves of the Covid-19 pandemic, quick and decisive actions by the authorities, supported by the external environment, led to a much quicker rebound than Bangladesh’s regional peers,” the IMF team said in a statement posted on its website on Sunday.

IMF projects 6.6% growth for B’desh

“Growth is expected to pick up to 6.6 per cent in FY22 as the impact of Covid-19 abates and policies remain accommodative,” it said.

Reflecting non-food price inflation and recent fuel price increases, according to the IMF, inflation is projected to be slightly higher than the authorities’ target.

The fiscal deficit is projected to reach 6.1 per cent of the GDP in FY22 as the pandemic-related spending increases, it said.

ALSO READ: Gita Gopinath to take on new role at IMF

“With the economy rebounding, the central bank should closely monitor inflationary pressures and stand ready to normalise,” said the IMF team.

Caps on the lending and borrowing rates limit the policy space and should be phased out to strengthen market-based pricing and to improve credit allocation and monetary transmission, it noted.

“Greater exchange rate flexibility, together with safeguarding foreign exchange reserves, will help buffer external shocks,” the IMF team said.

Previous Story

Taliban urge Afghans to return

Next Story

Iran reports 1st Omicron case

Latest from Bangladesh

Bangladesh’s China Pivot: A Risky Bet?

While leveraging major powers for economic and strategic benefits is a common diplomatic tactic for smaller nations, the risks of over-reliance on China are well-documented in the experiences of Sri Lanka, the

Bangladesh on Edge

According to the country’s leading media outlet, Northeast News, sources within the security establishment suggest that the army is looking to consolidate control, particularly in Dhaka….reports Asian Lite News Speculation is intensifying

UNICEF Alarmed by Rising Child Crimes in Bangladesh

The agency’s monitoring revealed that from January 2025 to March 16, media and local human rights organisations recorded approximately 50 cases of child rape….reports Asian Lite News The United Nations Children’s Agency

Bangladesh Polls: Will Hindu Votes Be Decisive?

Traditionally, a large segment of the Hindu electorate has supported the Awami League, viewing it as a party committed to secularism and minority protection…reports Rudra Mukherjee In democratic societies, minority voters often
Go toTop

Don't Miss

Explosives recovered from Bangladesh Nationalist Party office

Three persons, including BNP senior joint secretary Rizvi Ahmed, were

New passenger terminal building to boost India-B’desh connectivity

The inauguration was held jointly by officials from the Government