Fifty years of Bangladesh: how forex reserves went from $18 to $48.5 billion.

[Homo Sapiens]

Bangladesh started its journey of international trade with just 18 US Dollar on forex reserve after independence. This amount of money was left in Dhaka branch of State Bank of Pakistan after 16th December 1971. Since then Bangladesh's economy comes a long way and now forex reserves stand at $48.5 billion. This is sufficient to cover 9 months of import bill.

 

[Destranator]

Given how vulnerable and un-diversified our exports are, we should aim to keep enough reserves + safe BB investments (foreign treasury bonds, etc..) to pay 12 months worth of import bills. Good going regardless.

 

[bluesky]

I think people should search to find out how many dollars were left by the Govt of Pakistan. It was zero.

The then PM Tajuddin Ahmed donated $36 from his personal fund. This is the start of the foreign exchange fund of Bangladesh.

However, as usual, this Hasina Bibi is changing history also here. Tajuddin was a freedom fighter. Hasina does not want to hear his name or Bhasani's and Zia's. But history cannot be written by her.

 

[xuxu1457]

In 1974, China's foreign exchange reserves were 0 US dollars.

 

[UKBengali]

In 1974, China's foreign exchange reserves were 0 US dollars.

China is the model that every developing country not in Western Camp aspires to.

BD has done nowhere near as well as China so far but it can benefit from China's development into the next superpower alongside USA.