IMF says Bangladesh economy to grow up to 6 pct

By Serajul Islam Quadir

DHAKA (Reuters) - The economy of Bangladesh should grow up to 6 percent in the current year as agriculture, exports and domestic revenue collection were showing positive signs, the International Monetary Fund (IMF) said on Sunday.

"With exports recovering and a strong boro (rice) crop being harvested, the GDP (gross domestic product) growth of 5.5 to 6 percent appears possible for the current 2007-08 (July-June) fiscal year," Thomas Rumbaugh, adviser in the IMF's Asia and Pacific department, said.

Earlier the IMF had forecast the economy would grow 5 percent against the government's target of 7 percent.

Central bank governor Salehuddin Ahmed told reporters that what the IMF said was of "no matter to us", though he added: "Now the IMF agreed with us about the growth of the economy."

Rumbaugh told a news conference after a week-long visit to Bangladesh that the IMF had been concerned growth would slow due to repeated natural calamities in 2007 which seriously affected agriculture and rural infrastructure.

Rumbaugh led an IMF team to Dhaka from April 22 to 27 to assess recent economic developments and the outlook for the national budget in the fiscal year to the end of June 2009.

The IMF team met interim government chief Fakhruddin Ahmed, a former governor of the central bank, finance adviser Mirza Azizul Islam and central bank governor Salehuddin.