IMF forecasts 6.5pc growth for Bangladesh in 2022

The International Monetary Fund has projected a 6.5 per cent growth rate for Bangladesh for the year 2022.

The IMF made the projection in its latest the World Economic Outlook of the IMF titled "Recovery During a Pandemic Health Concerns, Supply Disruptions, and Price Pressures" released on Tuesday.

The IMF forecasted that the Bangladesh economy will grow at 7.1 per cent in the year 2026.

The report said output worldwide is expected to grow 5.9 per cent this year, only slightly lower that projected in July, before slowing to 4.9 per cent in 2022.

AFP adds: the ongoing hit from the Covid-19 pandemic and the failure to distribute vaccines worldwide is worsening the economic divide and darkening prospects for developing nations, the IMF said Tuesday.

Global economic growth this year and next is expected to continue as the recovery solidifies broadly, but the overall figures mask large downgrades and ongoing struggles for some countries.

"The outlook for the low-income developing country group has darkened considerably due to worsening pandemic dynamics," IMF chief economist Gita Gopinath said.

Meanwhile, advanced economies face "more difficult near-term prospects... in part due to supply disruptions."

Advanced economies are expected to regain "pre-pandemic trend path in 2022 and exceed it by 0.9 per cent in 2024," she said.

However, in emerging market and developing economies, excluding China, output "is expected to remain 5.5 per cent below the pre-pandemic forecast in 2024."

Amid the danger of long-term scarring, "The foremost policy priority is therefore to vaccinate at least 40 per cent of the population in every country by end-2021 and 70 percent by mid-2022," she said.