Harnessing the Remittance Boom

The number of transactions is huge, estimated at 1.5 billion remittances annually.

60 206. Facilitation and reduction of the cost of transfer of migrant remittances

Remittance income formed a big part of Yemen s budget.

A bolder solution would be direct cash transfers to the poor.

We should not ignore the enormous development potential of remittances to rural areas.

The contributors were contacted by the representatives of Nashi youth movement who knew all the details about their transfers.

Knowing the importance to poor families of remittance to Georgia, we are also concerned at reports of measures to block bank transfers.

Hats off, first, to Mexico for pioneering the idea of conditional cash transfers to poor households.

For cash transfer schemes to work, they must be regular, predictable, and long term.

Anti terrorism laws are a problem here, because the demand for more effective control mechanisms on international financial transfers places an extra burden on remittance operators.

Their remittances contribute immensely to the economic welfare of their families, communities, and home countries economies.

In any case, the cash transfer debate is no longer limited to those in northern development circles.

The economic importance of such remittances to poor countries in normal times is itself revealing.

Accounts of help received are published on the fund's page in VKontakte, where the organization posts screenshots of money transfers.

But by far the biggest transfer of assets from rich countries to the developing world takes place through migrant workers remittances.

Cape Verde received 34 of its GDP from remittances, Eritrea 38 and Burundi 23 .

Traditionally, nearly half of India s trade deficit has been financed by remittances from Indian expatriates.

With global aid totaling roughly 130 billon, each of the 1.3 billion people living in extreme poverty (less than 1 per day) worldwide would receive 100 in cash.

Some countries have already experimented with such programs, and India is preparing to begin providing cash transfers to its 300 million poor citizens.

The government should crack down on instances of high level graft and use the new system of cash transfers to limit the scope of petty corruption.

The majority of international money transfers come from working mothers who moved to Spain during the economic downturn of 2003.

It is also the country which receives the highest amount of remittances from the European Union (US 1.596 billion), comprising 22 of the total amount sent to Latin America (data from 2012).

SLUDGE Translation Editor

Such a review of remittances should look into restrictive practices that could be abolished, and ask whether official assistance should be adapted to the needs of this informal yet crucially important aid network.

China, India, and the Philippines are the three largest recipients of remittances, while Bangladesh, Indonesia, Pakistan, and Vietnam are also in the top ten.

Domestic resource mobilization, remittances from expatriate workers, private debt and equity flows, and philanthropic contributions exceed official international aid by a wide margin.

Edit SLUDGE translation files

I'm tired of translating.

I'm tired of translating.

I added a lot of translations.

Reducing transfer costs, which average an estimated 9 of the value of transactions, would put more money into the hands of those who need it most.

Virtaal

Tom works for a translation agency.

(Indeed, the only part of Mexican development that has been a great success has been the rise in incomes and living standards that comes from increased migration to the US, and increased remittances sent back to Mexico.)

In Bangladesh, for example, just 13 of households that receive remittances from abroad are below the poverty line, compared to 34 of non remittance receiving households.

In Latin America and the Caribbean, more than 50 million people are supported by remittances, and the numbers are even greater in Africa and Asia.

In Asia s developing countries, the power and potential of remittances the money that migrant workers send home to their families (many of whom live in poor and remote areas) is immense.

Why are some translations in grey?

I finished translating for today.

Statistical services

News services

Library services

Some countries have already experimented with such programs, and India is preparing to begin providing cash transfers to its 300 million poor citizens. In other words, a global cash transfer scheme could be very effective, and would be feasible if donor countries pooled their aid budgets.

Raúl Castro s economic reforms have either not been implemented, or are not delivering the expected results the island continues to depend on Venezuelan subsidies, remittances from Miami, and European tourists.