Photo: Collected
International Monetary Fund (IMF) Managing Director (MD) Kristalina Georgieva commented that the high prices of goods in the global market will last longer. Recently, he said, people are already worried because of slow growth and high debt; High inflation along with it will make people's lives more miserable.
In a speech given at the World Bank-IMF joint conference, Kristalina said that the increase in the price of goods in the world market will last for a long time. It will increase people's suffering. He also warned that these chronically high prices could create resentment among people. He also said that there is no escape from these twin shocks of slow growth on the one hand and high debt on the other.
Kristalina Georgieva said the global economy is in somewhat better shape, though she cautions that concerns remain. He also said that trade growth is slightly lower than global GDP growth.
The IMF released its global economic growth forecast on the occasion of the conference. The organization's forecast, this year the global growth may be 3.2 percent. The growth rate will remain the same in the next year as well. In this, the growth of developing and emerging countries can be 4.2 percent and the growth of developed countries can be 1.8 percent.
The IMF also said that Bangladesh's gross domestic product (GDP) growth could be 4.5 percent in 2024-25. Overall inflation may be 9.7 percent. The IMF's earlier forecast of GDP growth for the current fiscal year was 6.6 percent. However, the company said that inflation will be 9.7 percent earlier.
After 2025, global headline inflation will drop to 3.5 percent.
Source: Online/GFMM
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