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IMF downgrades global growth forecast

The International Monetary Fund (IMF) has lowered its forecast for global economic growth for this year and next. The IMF now expects growth of 3.5 percent this year, compared with the previous estimate of 3.8 percent which it made in October. The growth forecast for 2016 has also been cut, to 3.7 percent. The downgrade to the forecasts comes despite one major boost for the global economy - the sharp fall in oil prices, which is positive for most countries. [caption id="attachment_12241" align="alignleft" width="300"]From the Files - ECB Easing Expected...

Rajiv Shah, the next World Bank President ?

Outgoing US Agency for International Development Administrator Rajiv Shah, who is preparing to vacate his position early next month, might have left the agency much sooner, according to one of his former top aides — if only he had gotten the top job at the World Bank. rajib ShahTwo years into his term, Shah was under consideration for the presidency of the World Bank, according to an op-ed written by his former chief of staff. “Astonishingly, at aged 38, Raj was among the candidates being considered for the World Bank presidency,” writ...

DHK-CTG Elevated Expressway: MoU with China

The government plans to sign a memorandum of understanding with China for the construction work in three mega-infrastructure road projects, including Dhaka-Chittagong Elevated Expressway, involving billions of dollars, New Age reports. The two other projects are the construction of a new 6-lane Dhaka-Chittagong expressway and to widen the existing 2-lane Dhaka–Sylhet highway to a 4-lane highway, sources close to New Age said. china BDChina has assured the proposed fund to finance the projects as concessional loan on government-to-government basis, a ...

UN alarmed at ‘deepening’ political violence in BD

The United Nations (UN) human rights office has expressed concern over the rising levels of political violence rippling across Bangladesh amid fears of a return to a state of destructive brinkmanship seen in the run up to the country’s 2014 elections. “The deepening political violence in Bangladesh, resulting from the failure of the two major political parties to resolve their differences peacefully, is very disturbing,” Ravina Shamdasani, spokesperson for the Office of the High UN alarmedCommissioner for Human Rights (OHCHR), said Friday...

6.2pc GDP growth projected in current FY  

The World Bank has projected that Bangladesh will achieve a 6.2 percent GDP growth in the current fiscal year (2014-’15) against the government’s target of 7.3 percent. Besides, the World Bank says, Bangladesh growth is likely to rise to 6.5 percent in 2015-’16 and 7 percent in 2016-’17 fiscal years. The global lender made the projection in the World Bank Group’s Global Economic Prospects (GEP) report released globally on Wednesday. wbThe World Bank report also projects that the economic growth in the South Asia region will hit 6.8 percent by 2017 fr...

IMF set to stop ECF for Bangladesh  

The IMF is set to quit the ECF programme soon as the government has failed to commit implementation of roadmap for the new value-added tax act, suggesting a bitter relation between the government and the lending agency. The pre-mature ending of the reform programme that was undertaken about three years back to bring about regulatory changes in the broad economic matters would deprive the country of nearly $300 million, a senior finance ministry official said. IMFThe disbursement of the sixth instalment of the $1 billion ECF fund was scheduled in last...
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