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 bends to beat Trump’s blow

Dhaka seeks compromise as Trump’s 35% tariff looms large over key exports; Washington urges worker protections, factory relocation to US…reports Asian Lite News Bangladesh has opened the second round of critical trade

Bangladesh In Dengue Grip

Bangladesh Sees Sharp Rise in Dengue Deaths, 51 Reported in 2025…reports Asian Lite News A total of 51 dengue-related deaths have been reported across Bangladesh since the start of the year, marking

Bangladesh’s Dark Side Unveiled in Geneva

Organised by diaspora activists, the exhibit exposed rising rights abuses in Bangladesh post-Hasina…reports Asian Lite News In a bid to spotlight the deteriorating human rights situation and rising persecution of minorities in
Go toTop

Don't Miss

Hasina calls for more collaboration to ensure food security

Bangladesh Prime Minister Sheikh Hasina on Thursday called for greater

Lanka bailout: IMF stresses anti-corruption, governance reforms

On Monday night, the IMF approved the 48-month extended arrangement