If the tremendous run continues, the country is heading towards a record-setting year for remittance inflows, which have gone on to become one of the pillars of the Bangladesh economy over the decade. As per the World Bank, Bangladesh’s inflows are projected to hit $20 billion in 2020, making it the eighth highest remittance-receiving country in the world. The WB in April had made a forecast that remittance inflows to Bangladesh may plunge as much as 22% in 2020 to about $14 billion. In the worst-case scenario, Bangladesh's remittance will decline 27.8% from its 2018 level. “These countries escaped a decline in remittance inflows in the second quarter and seem to register increases in the third one,” it added.

Source: Dhaka Tribune November 01, 2020 15:45 UTC