A much-cherished staff-level deal on IMF loan release to Bangladesh hit two main snags that Fund officials mentioned as lacking in greater exchange-rate flexibility and improvement in revenue mobilisation.
The disclosure came Thursday when the International Monetary Fund (IMF) unveiled its changed economic outlook for the region in particular in the context of the tariff war between China and the United States.
The Fund alerts that the trade and tariff spats between the two economic superpowers wouldn’t bring any benefit for any country rather continuation of an open rules-based trading system will benefit everyone.
“I would highlight and our managing director has highlighted that for a long time there are no winners from trade war. It’s bad for the global economy,” said Thomas Helbling, Deputy Director for the IMF Asia and Pacific Department.
He was responding to a query of The Financial Express whether or not small economies like Bangladesh, Vietnam or Cambodia, who are China’s competitors in apparel exports to the United States, will benefit from the China-US tariff war.
Speaking at a press conference held on the sidelines of the IMF-World Bank spring meetings in Washington, DC, on Regional Economic Outlook for Asia and the Pacific, the IMF official, however, said in the current context, if there is a resetting of the global system and working towards new rules, “we think that will benefit everybody also in Asia”.বিস্তারিত