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Bangladesh on The Right Track in Controlling Prices of Goods: IMF
Rtv News
01 Nov 2024, 17:22
Photo: File Picture
The International Monetary Fund (IMF) has expressed the opinion that Bangladesh is on the right track in controlling the prices of goods and services.
The organization says Bangladesh Bank has no option to be contractionary to balance the flow of money at the moment.
This opinion was expressed by the IMF during the briefing on the regional economic outlook report in Tokyo, Japan on Friday (November 1) morning.
According to the agency, Asia is rapidly recovering from recession. The region is emerging from high inflation. So interest rates will decrease in many countries. However, there are concerns about exports.
"Inflation in Asia has been falling since the US Federal Reserve cut interest rates," the IMF says. However, the amount of debt in this region is constantly increasing.
Krishna Srinivasan, director of the Asia and Pacific region of the organization, said that many dangers have passed over the Asian economy. Many countries had to take loans to deal with this. If I calculate the total debt of the world, 28 to 35 percent of it is in Asia. Even the governments of China and Japan had to borrow heavily after the global recession. As a result, the growth rate in this region is low.
Then the IMF said about Bangladesh, the country's local economy has suffered multiple shocks. There are complications in product delivery. Some changes should be made in the financial policy to get out of here.
Thomas Helbling, Assistant Director of the IMF's Asia and Pacific Region, said that the politics of Bangladesh has passed through a turbulent period. Added to that is the shock of continuous floods. As a result, the supply of goods has been interrupted. Prices of goods and services in Bangladesh are higher since 2022. So, there is no alternative to contractionary monetary policy. Also, there is an imbalance in money transactions from abroad. Bangladesh can take budget support from any source if it wants.
According to the IMF forecast, GDP growth in Bangladesh this year will be 4.6 percent. Next year it will further decrease to 4.4 percent.
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Depression ‘Dana’ Strengthens into Cyclone, Alert Raised
The deep depression over the east-central Bay of Bengal has intensified into Cyclone 'Dana' as it moved further west-northwest. In response, the alert level at four seaports in Bangladesh has been raised to Signal No. 2.
This information was shared in a special weather bulletin issued on Wednesday morning (October 23) by meteorologist Mohammad Abdur Rahman Khan.
The bulletin states that as of 6 AM, the cyclone was positioned 695 km south-southwest of Chattogram Port, 620 km south-southwest of Cox’s Bazar, 695 km south-southeast of Mongla, and 645 km south-southeast of Payra Port. The storm is expected to intensify further and continue moving west-northwest.
Winds within 54 km of the cyclone’s center are blowing at a sustained speed of 62 km/h, with gusts reaching up to 88 km/h. The sea is reported to be very rough near the cyclone's core.
Seaports in Chattogram, Cox’s Bazar, Mongla, and Payra have been instructed to display Warning Signal No. 2.
Additionally, all fishing boats and trawlers in the north Bay and deep-sea areas have been advised to remain near the coast and navigate cautiously until further notice, ensuring they can reach safe shelter on short notice.
Cyclone Dana Intensifies, Storm Alert in 8 Districts
The cyclone ‘Dana,’ located over the Bay of Bengal and adjacent west-central Bay, has intensified into a severe cyclone as it continues to move north-northwest. Currently, it is positioned 490 kilometers south-southwest of Payra seaport.
This update was provided in a special weather bulletin on Thursday morning.
According to the bulletin, between 1 PM today, heavy rain or thunderstorms with gusty winds blowing at 60 to 80 km/h from the south or southeast may temporarily affect areas in Jessore, Kushtia, Khulna, Barishal, Patuakhali, Noakhali, Comilla, and Chattogram.
The ports of Chattogram, Cox's Bazar, Mongla, and Payra have been advised to hoist local cautionary signal No. 3.
Fishing boats and trawlers in the northern Bay of Bengal and deep-sea areas have been instructed to seek safe shelter and remain there until further notice.
Weather experts predict that the cyclone's direct impact on Bangladesh will be limited. Instead, it is likely to make landfall along West Bengal or Odisha in India. However, districts in Khulna and Barishal regions may experience some effects, along with the possibility of rainfall across the entire country.
Dr Yunus Calls for International Conference to Solve Rohingya Crisis
Interim Government Chief Advisor Dr Muhammad Yunus urgently called for an international conference to ensure a durable solution to the Rohingya crisis and the 'safe and dignified' repatriation of the Rohingya population to Myanmar.
He made this call in a message given on the occasion of United Nations Day on Thursday (October 24).
Originally, UN Day was observed on 24 October to mark the anniversary of the entry into force of the UN Charter in 1945.
The United Nations officially came into existence on this day with the ratification of this founding document by a majority of the signatories of the Charter, including the five permanent members of the Security Council.
In a message given on the occasion of the day, Dr Yunus drew the attention of the United Nations to give 'urgent attention' to the Rohingya crisis. He said, "We cannot ignore those in Rakhine State (Myanmar) or Gaza who continue to suffer oppression, overthrow, and grave human rights violations."
The Chief Adviser said that including 40 thousand newly arrived Rohingyas, more than 1.3 million Rohingyas have taken shelter in Bangladesh, and said that Bangladesh calls on the United Nations to take final steps to protect civilian children, women, and men. At the same time, it also called for dialogue to ensure peace in Gaza Lebanon, and the wider region.
He said, "On this day, Bangladesh reiterates its commitment to work with the international community to build a more just and peaceful world for its common interests. At the same time, the commitment to achieve dignity and rights for all must be implemented."
On the occasion of the United Nations Day, Dr Muhammad Yunus extended his heartiest congratulations to all the men and women of the UN family around the world and reiterated his (Bangladesh's) commitment to the ideals of the UN Charter on behalf of the people of Bangladesh.
He also called for reforming the United Nations to make it more inclusive, transparent, and responsive to meet the aspirations of all people in an increasingly global context.
Train Schedule Disruption Persists
Although the derailed Panchagarh Express coach has been recovered, the situation remains unmanageable due to damage to the signaling system. As a result, each train is departing three to three and a half hours late.
On Saturday (October 26), not only the journey was delayed, but the railway authorities also canceled the journey of the inter-city Jayantika Express on the Dhaka-Sylhet route and the Agnibina Express on the Dhaka-Tarakandi route.
Meanwhile, passengers returning to Dhaka after a long time are also expressing their anger, blaming the authorities for the prolonged situation.
Railway authorities said that efforts are underway to normalize the schedule. They say the train is still running with the manual signal. Work is underway to fix the signal issue.
Although the carriage of the derailed Panchagarh Express has been recovered, the situation is still beyond control due to the damage to the signal system.
Meanwhile, the railway authorities have formed an inquiry committee into the derailment of the coach. Action will be taken subject to the report of the committee.
It is to be noted that the Panchagarh Express train met with an accident at the Kamalapur railway station area on Thursday (October 24). In this, 3 coaches of the train fell off the line. However, no one was injured.
6 Killed as Truck, CNG Collide in Narsingdi
Six people were killed in a head-on collision between a truck and a CNG-run auto-rickshaw at Shibpur in Narsingdi this afternoon.
The accident took place on the Itakhola-Monohardi road in the Pacharbari area of Shibpur on Saturday (October 26) afternoon.
The victims were not immediately identified.
Shibpur Police Station's Officer-in-Charge (OC) Md Afzal Hossain confirmed this.
According to the police, and locals, a CNG carrying passengers from Itakhola was going to Manohardi on Saturday afternoon. When the autorickshaw reached a place called Pacharbari, it collided with a truck going to Itakhola. The CNG was completely twisted. Six people, including the autorickshaw driver and passenger, died on the spot. After receiving the information, the fire service and the police are conducting a rescue operation.
He said that all the victims were passengers of the autorickshaw. Among them, there is a woman. We are currently working to recover the bodies and their identities.
Ex-DMP Commissioner Detained at Airport While Leaving Country
Retired Additional IGP and former Dhaka Metropolitan Police (DMP) Commissioner Khandaker Golam Faruk was detained at Hazrat Shahjalal International Airport while leaving the country for Bangkok, the capital of Thailand.
Anti-Corruption Commission (ACC) has filed an application against him for corruption of Tk3,000cr.
A source in charge of Hazrat Shahjalal International Airport confirmed that he was detained around 3 am on Sunday (October 27).
It is known that Golam Faruk was going to Bangkok on Thai Airways flight TG-340 for a personal visit. However, he was interrogated by immigration officials after going to the airport's exit immigration counter.
After that, he was not allowed to board the plane. Golam Faruk is currently with the Immigration Police. It has not yet been decided whether he will be handed over to the police or he will return home.
Golam Faruk joined Bangladesh Police as Assistant Superintendent of Police in the 12th BCS (Police) cadre in 1991. On October 29, 2022, he assumed responsibility as the 35th Commissioner of Dhaka Metropolitan Police.
After a long career of 32 years and 8 months, he retired on September 30, 2023. This retired police officer is reported to have a US green card.
Ex-Public Works Minister Engineer Mosharraf Hossain Arrested
Former Minister of Housing and Public Works and former Member of Parliament of Chattogram-1 Constituency Engineer Mosharraf Hossain has been arrested by the Detective Branch (DB) of Dhaka Metropolitan Police.
He was arrested from the capital's Bashundhara residential area on Sunday (October 27)
Muhammad Talebur Rahman, Deputy Commissioner (media and public relations) of Dhaka Metropolitan Police (DMP), and DB Additional Commissioner (Media and Public Relations) Rezaul Karim Mallik confirmed the matter.
Talebur Rahman said that Mosharraf, the former Awami League lawmaker from Chattogram-1, was accused in a murder case filed at Paltan Police Station.
Engineer Mosharraf Hossain won the 1st, 3rd, 7th, 9th, 10th, and 11th parliamentary elections as an Awami League candidate from Chattogram-1 Constituency.
He was also the Minister of Civil Aviation and Tourism in the period from 1997 to 2001, before taking charge of the Ministry of Housing and Public Works in the 10th National Parliament.
