by William Gomes

Remittances hit record high in November with Bangladeshi abroad sending more than a billion dollar home. Such wealth comes at a price as more than 8,000 of them lost their life.

Dhaka (AsiaNews) – Remittances hit the highest monthly inflow rate in the history of Bangladesh in November. Bangladesh Bank Governor Atiur Rahman said that the new record just topped the US$ billion mark, up from the previous mark of US$ 937.9 million reached in August. In the first four months of the present fiscal year, Bangladeshi working abroad sent home more US$ 3.6 billion, the highest amount of the last few years, which represents an increase of 21 per cent.

In the 2007-2008 period, the country received US$ 7.9 billion, which rose to US$ 9.7 in 2008 -2009. For this year, remittances should establish a new record.

Government tax breaks and streamlined formal banking rules helped migrants send money home, preventing an expected slump in remittances expected by the International Monetary Fund and the Asian Development Bank.

Some 6.5 million Bangladeshis work abroad and play a vital role in the country’s development, but they are often victims of harassment, abuse and even torture in some countries.

About 8,000 Bangladeshi have died in the past five years with a steady upwards trend: 788 in 2004, 1,248 in 2005, 1,402 in 2006, 1,673 in 2007, and 2,237 in 2008.

• bangladesh
• migrants
• economy
• development
• capital
• poverty
• exploitation
• dead