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Migration, Remittances and Development

image of Migration, Remittances and Development

This publication presents the current situation with regard to the magnitude and economic impact of migrants’ remittances to their countries of origin. In 2004, remittances exceeded official development aid in several emigration countries: they totalled USD 126 billion according to IMF estimates.

The book surveys the channels used to collect these funds; the role of banking systems and other financial institutions; the introduction of new technologies and their impact on fund collection; how the funds are transferred; and how to reduce the costs. Focus is also placed on the different ways in which migrants themselves participate -- together with non-governmental organisations, host countries and sending countries -- to open up new avenues for policies on development aid and co-development. The direct role that migrants can play at the local level is highlighted.

Several countries and regions are illustrated: Southern European countries, Mexico, Turkey, North African and sub-Saharan African countries, the Philippines and some Latin American countries.

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Migration, Remittances and Economic Initiatives in Sub-Saharan Africa

Migrants from sub-Saharan Africa began to contribute to the development of their home countries as a result of two developments: the cycle of droughts in the 1970s that seriously affected these countries’ domestic economies, which are primarily based on agriculture, and the structural adjustment measures initiated in 1981, prescribed by the International Monetary Fund (IMF) and the World Bank, requiring countries to disengage from the agricultural sector and thereby depriving a significant portion of farmers of subsidies and technical support.

English French

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