Despite earthquake, Haitian microfinance continues to serve rural poor

Wednesday, 20 January 2010 13:56

Over the past week it has been impossible to ignore the scenes of utter desperation coming out of Haiti. After being ravaged by four storms in 2008, last week’s earthquake once again devastated one of the world’s poorest nations, effectively resetting the clock on its development. Despite this, however, the stepping-stones of the rebuilding process are being laid.

Read more: Despite earthquake, Haitian microfinance continues to serve rural poor

Remittances to Jamaica grow for first time in Nov.

Thursday, 14 January 2010 11:37

Source: International Fund for Agricultural Development (IFAD)
By: Robert W. Meins

The Bank of Jamaica released new figures this week, showing that remittances to Jamaica grew for this first time in 2009 during the month of November. Over the course of the year remittance flows have been recovering from the February low of $132 million (the lowest level since January of 2006).

Read more: Remittances to Jamaica grow for first time in Nov.

Remittances to rural Ecuador hit hard by financial crisis

Tuesday, 18 August 2009 07:37

Source: IFAD social reporting blog
By: Robert W. Meins

Excerpt of information used in Aug. 12th 2009 Financial Times article

The financial crisis has made it increasingly difficult for migrant workers living abroad to send money home. With some notable exceptions, especially in Asia, it is clear that families dependent on remittances from the United States, Europe and Russia are receiving significantly less than in previous years. In Ecuador, which has seen an almost 30% decline in remittances this year, the impact of the financial crisis is greatest in rural areas.

Read more: Remittances to rural Ecuador hit hard by financial crisis

Orozco, Ratha and Meins discuss remittances and the financial crisis

Wednesday, 12 November 2008 16:39

Listen to mp3 audio recording of the event.

Economic crisis just one of many intersecting variables determining remittance trends

“At what point can migrants no longer deal with the situation?” This question posed by Robert Meins, remittance specialist at the Multilateral Investment Fund of the Inter-American Development Bank, was central to today’s discussion of Recent Trends in Remittances to Latin America, hosted by the Inter-American Dialogue. At issue is the capacity for migrants to endure a recession.

“Remittances are primarily a family obligation,” said Meins, and because remittances to Latin America are used overwhelmingly to cover everyday expenses and are considered necessary inflows, “they do not follow a profit driven model.” Historically, migrants have responded to economic struggles in their home countries by increasing the amount and frequency of their remittance transfers.

Read more: Orozco, Ratha and Meins discuss remittances and the financial crisis