Bangladesh May Lose $500 Million a Year
- Share via
DHAKA, Bangladesh — The gulf crisis may cost Bangladesh, one of the world’s poorest countries, up to $500 million annually, according to Finance Minister Abdul Munim.
He told business leaders Monday that Bangladesh will lose $100 million from remittances sent by 75,000 Bangladeshis who worked in Kuwait before Iraq invaded the emirate. And Bangladesh will have to pay an extra $250 million for oil imports and suffer substantial export losses.
Bangladesh, with annual per capita income of $170, receives $2 billion from the world’s rich nations each year to pay for 90% of its development budget.
Munim said Bangladesh needs about $28 million to evacuate people stranded in Kuwait and neighboring countries. Foreign Ministry officials said Tuesday that more than 13,000 of 45,000 Bangladeshis who had fled Kuwait have flown home. The rest are expected to leave by the end of the month.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
More From the Los Angeles Times
Podcasts
John Orr was a renowned fire investigator who was also a prolific arsonist, and whose thinly veiled novel helped to convict him. In this episode we hear from the fire captain who first suspected him—and from Orr himself.
Madison McGhee is joined by legendary Dateline host Josh Mankiewicz and esteemed L.A. Times Reporter Richard Winton as the three of them dive into all-things Menendez Brothers, the good, the bad, and the still unknown.
NPR climate editor Sadie Babits talks about why the media has long overlooked the climate crisis, and how that’s starting to change.
