ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Economy

Bangladesh weighs paying for infrastructure with remittances

Migrant workers build record foreign reserves, but IMF urges caution

Migrant workers, mostly from Bangladesh, line up to collect free masks and have their temperatures taken in Singapore in February.   © Reuters

DHAKA -- The novel coronavirus threatens to scupper Bangladesh's run of strong economic growth, which has averaged 7% over the past decade.

But Bangladesh has an overseas lifeline: In June, an estimated 12.5 million Bangladeshis, working in more than 170 countries, wired home a record $1.83 billion. That raised the country's foreign exchange reserves to an all-time high of $36.14 billion. Remittances, equal to almost 6% of gross domestic product, are a pillar of the Bangladeshi economy.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more