The New Nation - Internet Edition

UNB, Dhaka

Bangladesh Bank Governor Dr Salehuddin Ahmed yesterday said the World Bank projection on Bangladesh's GDP growth has cast a negative impact on the country's people.

"The way they forecast has not been really good, particularly under the circumstance of current global financial turmoil," he said while addressing the inaugural session of a workshop at Bangladesh China Friendship Conference Centre.

International Chamber of Commerce, Bangladesh (ICC,B) organized an IFC 'FIT Initiative' certificate awarding ceremony followed by the workshop titled 'International Trade Payments: Management and Operation'.

The Governor made the remarks apparently in response to ICC,B president Mahbubur Rahman's concern over making public such sensitive observations on the economy.

He said the World Bank and IMF could have shared their forecast with policymakers, economists and businessmen to give an idea about the possible impact of global financial crisis on the economy. "But they cannot make public the specific numbers."

ICC,B president Mahbubur Rahman said the international financial institutions should be careful in making such projections public without having consultation with our policymakers, the business community and other stakeholders. He urged the Governor to arrange a formal meeting with the World Bank together with government policymakers, business leaders and others concerned to have threadbare discussions on the World Bank and local projections on the economic growth.

"We must strongly oppose such kind of negative public statement without providing relevant facts and figures," he said.

Asked about the World Bank projection of 4.8 percent GDP growth during the current fiscal year at a press briefing at the Planning Ministry on Wednesday, Finance Adviser Dr Mirza Azizul Islam said he does not see any reason that the GDP growth would go down below 6 percent.