Monday, 5 January 2009

RBANGLADESH: Remittance sets benchmark $10b expected this year

Remittance inflows set a new record in 2008 crossing an 8 billion-dollar mark, thanks to an increased number of outbound workers.

According to Bangladesh Bank (BB) statistics, in the just-concluded calendar year remittance worth $8.22 billion came into the country marking a 25.36 percent growth. In 2007 remittance inflow was $6.55 billion. The figure was $769 million last December.

The central bank hopes the remittance inflow would cross $10 billion this year although there is a fear that global recession might cast a shadow on remittance.

Except for one month, the average monthly remittance earning in the last 11 months was more than $700 million. Read more

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