Dhaka, July 11 -- Economic uncertainties continue to constrain global economic growth. Late last month, the International Monetary Fund (IMF) further downgraded the global economic growth projection - a contraction by 4.9 per cent in 2020, some 1.9 percentage point below the April quarter forecast. Also, the recovery in 2021 would be slower than projected in the April forecast and during the same year Global GDP would be down by 4 per cent relative to its level in 2019 so long as there is no second wave of Covid-19 infections. The IMF further warned that a cumulative hit to the global economy would be of US$12 trillion over 2020-2021.

The IMF further indicated that for the first time ever nearly all regions of the world are expected to e...