In 2003, gross flows to developing countries amounted to US$ 142 billion, compared to US$ 18.4 billion in 1980. The annual average figure increased from US$ 7.8 million in 1975-79 to a recorded total of US$ 98 billion in 1998-2003. According to the World Bank, international remittances received by developing countries were expected to reach US$ 167 billion in 2005 - a more than ninefold increase over the past 25 years. Given the importance of this topic, IOM is pleased to be able to co-sponsor the publication of this new study by Bimal Ghosh with The Hague Process on Refugees and Migration.

Table of Contents : Preface * Introduction * The Complex Configuration of Remittances * Increasing Inflows of Remittances to Developing Countries * Economic and Social Impact of Remittances: A Litmus Test * Remittances are not without Pitfalls: A Critical Appraisal of their Impact * The Role of Non-state Stakeholders: What More they Can Do and How * An Overall Assessment