Record-high remittance a testimony to the patriotic spirit of expatriates
Bangladesh's embattled economy can breathe a little sigh of relief thanks to expatriate Bangladeshis who, according to a report, sent home a record $26.9 billion in 2024—a 23 percent increase year-on-year. This not only bolsters our strained dollar reserves but also serves as a reminder of the crucial role expatriates, including migrant workers, play in our economy.
Following the autocratic Awami League government's fall on August 5, remittance inflows have experienced a significant surge, with over $2 billion coming into the country every month since. In December alone, a record $2.63 billion was received, marking a 33 percent increase compared to the previous year. Evidently, expatriates are acutely aware of developments in Bangladesh and are actively seeking ways to support their homeland. During the July uprising, many expatriates vowed to refrain from sending remittances through official channels in protest against the brutal crackdown on demonstrators, reflecting their deep sense of responsibility to the nation.
For all latest news, follow The Daily Star's Google News channel. 
One cannot, however, help but ask whether the country has reciprocated their sacrifices and contributions over the years. The answer—if we just consider the plight of migrant workers—is a resounding no. The hardships migrant workers continue to endure, including paying exorbitantly high fees to go abroad, remain a shameful testament. Furthermore, the limited state recognition they receive as well as inadequate support from our missions abroad, especially during times of crisis, are long-standing issues. And despite years of promises, provisions enabling expatriates to vote from abroad remain absent, highlighting the neglect they have faced from successive governments. This last bit, one hopes, will at least change under the interim government, paving the way for expatriates to finally vote in elections.
More broadly, however, we urge the interim government and future administrations to provide substantive support to our expatriates and migrant workers instead of offering empty gestures like in the past.
The surge in remittances can be attributed to various steps taken by the interim government, such as narrowing the exchange rate gap between formal and informal markets. The reduction in money laundering from Bangladesh and the rise in remittances have also strengthened our external sector and boosted the foreign exchange reserves. We hope the authorities will continue to prioritise policies that promote remittances, better serve our expatriates, and improve other economic factors as a result.
Comments