RCEP shows regional strong commitment to liberal trade: IMF 10:47 | 15/04/2021
Cargo ships offshore Singapore (Photo: VNA/Reuters)
Hanoi - The Regional Comprehensive Economic Partnership (RCEP) sends a very powerful message of the region s commitment to open and liberal trade, an official of the International Monetary Fund (IMF) has said.
Addressing an online press conference on April 13, acting director of the IMF s Asia and Pacific Department Jonathan D. Ostry said this is a very welcome step.
According to the official, the global environment has been extremely challenging, and yet Asia was able to conclude this agreement in this challenging environment, sending a very powerful signal.
Economic Recovery: Bangladesh leads the way in South Asia
Says IMF
Despite the recent spike in Covid-19 infections, South Asia excluding India is recovering, led by Bangladesh, due to higher-than-expected exports and remittances, the International Monetary Fund said yesterday.
The Washington-based multilateral lender revised its GDP projection for Bangladesh to 5 percent in 2021, up from its October last year s projection of 4.4 percent.
The nation s economy is expected to grow 7.5 percent the next year, said the IMF at its Spring Meetings which took place virtually.
With a remittance income of $18.60 billion, the country recorded 35 percent year-on-year spike in remittances in the first nine months of the current fiscal year, thanks to migrant workers and non-resident Bangladeshis who sent money home, data from Bangladesh Bank shows.