Bangladesh no longer a ‘bottomless basket’, says BB Governor Atiur Rahman

Stating that Bangladesh is no longer a ‘bottomless basket’, the central bank Governor Atiur Rahman has said that the country has now adequate food and foreign exchange reserves.

He has said the Bangladesh’s economy was surging ahead with the growth in many fields including remittance and food production.

The Bangladesh Bank governor spoke of the country’s economic advancement while speaking at a programme of Rajshahi University’s Economics Department Alumni Association on Friday on the institution’s campus.

“Remittance has been the mainstay of our economy. Around 9.5 million Bangladeshis working in over 150 countries are sending home over $15 billion a year,” he said.

Rahman said Bangladesh ranks seventh in the world and second in Asia in getting remittance from expatriates.

“Bangladesh had to seek alms just after the independence to feed a population of only 70 million. The situation has changed. Now 38.5 million tonnes of food is produced a year,” he pointed out.

American Secretary of State Henry Alfred Kissinger at that time had described Bangladesh as a ‘bottomless basket’.

Atiur said, “Bangladesh is no more a bottomless basket; food and foreign exchange are spilling over that basket.”