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World Bank fears economic crisis in Bangladesh due to flood
POSTED: 10:01 a.m. EDT, August 9,2007

The World Bank predicted a crisis in Bangladesh economic management resulting in declining the country's GDP target by 0.2 percent to 6.8 percent during the current fiscal year.

The World Bank also feared widening of the country's budget deficit and increasing inflation as an impact of the flood.

The World Bank expressed the concerns in a meeting between the Bangladesh government and donor countries in Dhaka on Wednesday.

The donor countries and agencies, informed of the scale of devastation caused by the flood in various sectors, expressed willingness to extend assistance to Bangladesh's flood-hit people in relief operation and post-flood rehabilitation.

The current flood caused by incessant rains of two weeks and on rush of waters from upper stream so far has claimed 192 lives and affected nearly 10 million people.

From: xinhua
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