Dhaka, Feb. 24 -- The global economy is now grappling with a number of crises ranging from inflation, growth, trade, cost of living, housing, energy security, climate change and deglobalisation. Policy makers are faced with daunting challenges to address these multifrontal crises; more disturbingly they are likely to continue to confront them in the years ahead.

According to the IMF Blog (January 15), while headline inflation is falling in many countries, core inflation which excludes more volatile food and energy prices, has been revised upwards. According to the US Bureau of Labour Statistics (February 13) US core inflation (less food and energy) rose to 3.9 per cent for 12 months ending in January 2024, unchanged from December 2023. ...