Bangladesh on The Right Track in Controlling Prices of Goods: IMF

Rtv News

Publish : 01 Nov 2024, 05:22 PM

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.

Follow google news channel to get RTV news Google News

Related More News

A Wave of Protest at Shaheed Minar, Demanding Hasina's Execution

A massive crowd has gathered at the Central Shaheed Minar in Dhaka in response to the "March for Unity" program organized by the Anti-Discrimination Student Movement. Students and citizens are demanding the execution of Sheikh Hasina and those involved in the July-August massacres. On Tuesday (December 31) afternoon, the Central Shaheed Minar and its surrounding areas were flooded with people carrying banners from different districts and sub-districts, assembling at the iconic site. The Dhaka University area has turned into a sea of people. Revolutionaries from outside Dhaka have been seen stationed at the Shaheed Minar and nearby areas since the morning. During the demonstration, chants like "Death, death, we demand death! Execution for the killer Hasina!", ''My brother lies in the grave; why are the killers free?", "Delhi or Dhaka, Dhaka-Dhaka!", "Abu Sayed Mugdho – the war is not over," "Slavery or freedom? Freedom! Freedom!", and "No to subservience, yes to the streets!" echoed throughout the gathering. Speakers at the event stated, "The stains of our martyrs' blood have not yet dried, yet some are trying to rehabilitate the authoritarian regime. Whenever we aim to permanently rid the country of fascism, some individuals and groups disguised as civil society stand in opposition. If necessary, we will resist them as well." Injured participants from the uprising were also present at the program. Earlier, the Anti-Discrimination Student Movement announced plans to release the "July Proclamation" after the uprising. However, the organization withdrew this decision after the government declared its intent to issue the proclamation.

CA Pays Tribute to Late US President Jimmy Carter and Indian Ex-PM Manmohan Singh

Chief Advisor Professor Muhammad Yunus paid rich tribute today to former US President and fellow Nobel Laureate Jimmy Carter who passed away earlier this week. He also wrote a message in the condolence book opened at the US Embassy in Dhaka. Earlier, while arriving at the Embassy, US Charge d'Affaires Megan Bouldin received the Chief Advisor. Professor Yunus spoke briefly and shared his memories with his long-time friend late President Jimmy Carter. The Chief Advisor recalled the memory of the late President Carter as a global champion of human rights, democracy and peace and lauded his contributions to deepening bilateral relations between Bangladesh and the United States. Earlier to the Chief Advisor, Professor Muhammad Yunus signed the condolence book with a message at the Indian High Commission in Dhaka expressing his profound grief on the sad demise of the former Prime Minister of India Dr. Manmohan Singh. The Chief Advisor placed flower petals at the portrait of the late Dr. Manmohan Singh. At the Indian High Commission, the Chief Advisor was received by the High Commissioner of India H.E. Mr. PranayVerma. At this time, Professor Muhammad Yunusreminiscedhis longstanding relations with his friend Dr. Manmohan Singh.

March for Unity / Family Members of Injured, Martyred Gather at Shaheed Minar

At the call of the Anti-Discrimination Student Movement, students, citizens, and families of the injured and martyrs of the uprising are gathering at Shaheed Minar to join the "March for Unity." Since Tuesday (31 December) morning, people from various parts of the country have started assembling at the Shaheed Minar area. During the gathering, students and citizens chanted slogans such as "Why are the killers free while my brothers are in the grave?" "Delhi or Dhaka, Dhaka," "Injustice will be swept away in a flood of blood,” “Abu Sayed, Mugdho, the battle is not over yet," and "Hang the killers, hang Hasina." Some were seen holding banners, placards, and flags as part of their preparation. Students and citizens from districts such as Chattogram, Natore, Panchagarh, and Sirajganj arrived early in the morning and took positions around Shaheed Minar and Dhaka University. Various groups of students were seen gathering in and around the Shaheed Minar. Many revolutionaries were also seen seated in chairs in front of it. Incidentally, The Anti-Discrimination Student Movement had planned to read out a declaration of independence at Shaheed Minar today. However, an announcement from the interim government that they would read the declaration confused whether it would be read out today. In such a scenario, the Anti-Discrimination Student Movement held a press conference at their office in Banglamotor, Dhaka, at around 1:45 am on Monday (30 December). They announced that the “March for Unity” program would be held at 3 pm on Tuesday (31 December) at the Central Shaheed Minar.

Hasina Viewed Religious Scholars as Threats: Sarjis Alam

During the July-August mass uprising, the Bangladesh Islami Chhatra Shibir played a significant role as comrades by being present on the streets, providing advice, and assisting in critical steps. Sarjis Alam, the chief organizer of the National Citizens' Committee, made this statement while attending the member conference of Chhatra Shibir at Suhrawardy Udyan in the capital on Tuesday (December 31). He said, "No one can suppress the truth forever. It is only a matter of time before the truth comes out. From our position, we always want to speak clearly. Over the past 16 years, Sheikh Hasina has labelled and played the blame game against anyone she considered a potential threat to her power. This game has claimed the lives of many innocent people. Sheikh Hasina even viewed religious scholars as threats and attacked, sued, persecuted, and killed them." This prominent organizer of the anti-discrimination student movement further stated, "Bangladesh Islami Chhatra Shibir and many other individuals and organizations faced severe challenges under Sheikh Hasina's rule, which made it nearly impossible for them to live freely in independent Bangladesh. From our perspective, we want to say one thing: many of the narratives Sheikh Hasina tried to present about you and others are no longer believed by the current generation of Bangladesh. The present generation has enough conscience to identify and expel fascists." He also added, "The way we worked hand in hand, shoulder to shoulder, and even at the planning table, we will continue to work unitedly in the future, prioritizing the country's interests above all to build the Bangladesh of tomorrow."

CA Pays Homage to Manmohan Singh at Indian High Commission

Today, Chief Adviser Professor Muhammad Yunus paid rich tribute to former Indian Prime Minister Manmohan Singh, who died last week. Prof Yunus visited the Indian High Commission and placed a wreath at the portrait of the late Indian ex-prime minister. He also wrote a message of mourning in the condolence book opened at the Indian Mission. India is observing a seven-day mourning for its late former premier. Indian envoy Pranay Kumar Verma received Dr Yunus at the High Commission at Baridhara here at 11:30 am. The chief adviser spoke briefly with the high commissioner and shared his memories with his long-time friend Manmohan Singh. "How simple he was! How wise he was!" he said, recalling his friendship with the late Indian former prime minister. Dr Yunus also said that Singh played a big role in turning India into a global economic giant.