It is assumed that the reader is familiar with the general features of the Bangladesh economy. Let me only add, for openers, that while recognizing the deep difficulties currently besetting the system—including the recent severe floods— I do not share the general sense of despondency, if not despair, concerning the prospects for the future. There are enough things, I am firmly convinced, within the control of the decision-makers of Bangladesh to convert present stagnation into satisfactory—though by no means spectacular—forward motion.