Tuesday, June 27, 2017 | ePaper

IMF warns of growing risks to improving global recovery

  • Print
AFP, Washington :
The global economic recovery is improving and picking up steam, but still faces a series of threats that could erode the improvements, especially the rise of protectionist rhetoric, the International Monetary Fund warned Tuesday.
The fund's semi-annual World Economic Outlook report revised global growth up to 3.5 percent for this year, one-tenth higher than the January forecast.
It was a rare upward revision to the growth forecast-the first in two years -- which has been consistently disappointing. For 2018, growth is expected to rise to 3.6 percent, and to 3.8 percent by 2022. "The global economy seems to be gaining momentum-we could be at a turning point. But even as things look up, the post-World War II system of international economic relations is under severe strain," IMF chief economist Maurice Obstfeld said.
The report warns of the "significant downside risks" to the outlook, which have gotten worse since January-among them, "the turn towards protectionism, leading to trade warfare," Obstfeld said in the foreword of the report.
Many of the concerns-including rolling back financial regulation, pulling away from the multilateral trading system.

More News For this Category

IPDC Finance Limited, recently announced the Eid Ucchash campaign winner's name. Parvin Mona (Rangpur) Faishal Ahamed (Barishal) Ziauddin Mortuza (Sylhet) Farhan Jawad (Mymensingh) Izaz Mahmood (Chittagong) Rafsun Rafique (Khulna) and Iftakharul Alam from Rajshahi districts were win the programme.

IPDC Finance Limited, recently announced the Eid Ucchash campaign winner's name. Parvin Mona (Rangpur) Faishal Ahamed (Barishal) Ziauddin Mortuza (Sylhet) Farhan Jawad (Mymensingh) Izaz Mahmood (Chittagong) Rafsun Rafique (Khulna) and Iftakharul Alam from Rajshahi districts were win the programme.

.

Sustainable revenue growth key to execution of budget 2017-18

Muhammad Mahboob Ali :The national budget for the upcoming fiscal year 2017-18, presented by Finance Minister AMA Muhith  at the Parliament targeted 7.4 percent GDP growth rate  and total

Bangladesh's export to China rises 23 pc

Economic Reporter :The country's merchandise export to China registered a robust 23.65 per cent growth during the first 11 months of the current fiscal year (FY17).The latest statistics, released

edotco to Acquire Tower Company in Pakistan

Economic Reporter :edotco Group Sdn Bhd ("edotco") through, edotco Pakistan (Private) Limited, announced it has entered into an agreement with Tower Share (Private) Limited ("TS PK") to acquire 100percent

Japan develops smart clothing

Business Desk :Demand for smart clothing is picking up in Japan, promising a potential new source of income for the industry. Asahi Kasei will develop smart clothes that can

Plastic goods makers seek VAT exemption

Economic Reporter :The country's plastic goods manufacturers and exporters requested the government to review some of the budget proposals, including withdrawal of VAT on crockeries, recycling and footwear made

RMG accessories makers demand 15pc corporate tax

Economic Reporter :Manufacturers of the country's garment accessories demanded 15 percent corporate tax for the next fiscal year 2017-18 to remain competitive in global market. Garment accessories are considered

Ali Reza Iftekhar Managing Director of EBL and Md. Nurul Islam, Chairman- Bangladesh, Nepal & Myanmar of Metlife, exchanging documents after signing an agreement titled

Ali Reza Iftekhar Managing Director of EBL and Md. Nurul Islam, Chairman- Bangladesh, Nepal & Myanmar of Metlife, exchanging documents after signing an agreement titled "EBL Salary Shield", a special insurance coverage plan for EBL Pay-roll banking customers in Dhaka recently. Senior management from both the companies were present on the occasion.

.

Taiwan`s Foxconn says Toshiba deal `not over`

AFP, New Taipei City :The head of Taiwan's tech giant Foxconn said Thursday its pursuit of Toshiba "is not yet over", a day after the Japanese firm announced it

Amazon to buy Whole Foods for $13.7 billion

Amazon to buy Whole Foods for $13.7 billion

Reuters :Amazon.com Inc said on Friday it would buy Whole Foods Market Inc for $13.7 billion, in an embrace of brick-and-mortar stores that could turn the high-end grocer into