Remittances Gateway
During the last few months the WBG, experts and other civil society groups have noted increasing anecdotal reports of banks’ “derisking” activities, including in relation to MTOs that provide international remittance services. Such evidence is currently not backed by substantiated, verified and comprehensive data on the drivers and the effects of this phenomenon.
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Source: Oxfam, 30 January 2015
At least in economic terms, migration appears to be some kind of developmental wonder-drug. Remittances from migrants to developing countries are remittances v other flowsnow running at some three times the volume of aid, and barely faltered during the 2008-9 financial crisis (see graph).
Africans are helping themselves more than aid workers are, according to new research.
Analysis of cash flows by Hong Kong-based Ghanaian academic Adams Bodomo shows that
Africans living outside the continent send more money home to their families than is sent by traditional Western aid donors in what is called Official Development Assistance (ODA).
A fresh wave of remittances from overseas Filipinos to help families rebuild their lives in Central Philippines will boost the peso against the dollar in the aftermath of Super Typhoon Yolanda, according to analysts.
In an e-mailed note Monday, researchers Craig Chan and Prateek Gupta at global financial services firm Nomura said overseas Filipinos will send more money back home for relief and reconstruction – supporting the local currency.
The depreciation in the value of the Indian rupee on account of heavy dollar buying from defence-related companies and oil importers is not leading to a huge remittance.
Read more New data showing that Philippine workers based in Burma remitted US$150,000 to their homeland in 2013 is perhaps another small signal of Burma’s economic reintegration with the wider world.
The numbers, in the latest Philippine central bank statistics on remittances to the Philippines, show a rise from $0 to $150,000 for August 2013, with Burma joining the 24 Asian countries and dozens of others worldwide where about 10 million Filipinos have moved to work and send money back to families at home.
Growth in remittances is not expected to reach a plateau just yet and may even accelerate in the next few years on the back of growing demand for Filipino workers abroad, according to a report
that appeared in the latest issue of The Market Call, a joint monthly publication of First Metro Investments Corp. (FMIC) and University of Asia and the Pacific (UA&P).
New data showing that Philippine workers based in Burma remitted US$150,000 to their homeland in 2013 is perhaps another small signal of Burma’s economic reintegration with the wider world.
The numbers, in the latest Philippine central bank statistics on remittances to the Philippines, show a rise from $0 to $150,000 for August 2013, with Burma joining the 24 Asian countries and dozens of others worldwide where about 10 million Filipinos have moved to work and send money back to families at home.
according to a new report by the International Fund for Agricultural Development (IFAD), an agency of the United Nations. More than half ends up in Asia, but much of the money is wasted on expensive transfer services and gets stashed away rather than put to productive uses that might help reduce poverty.
Read more The National Bank of Pakistan (NBP) has signed home remittance arrangement with Bank Al Jazira (BAJ) to speed up the inflows of remittances from the Kingdom of Saudi Arabia,
a statement issued by the NBP said on Tuesday.The services under this arrangement will be launched shortly, it said. This collaboration of NBP and BAJ will give choice to remitters to send money to their loved ones from Saudi Arabia to Pakistan within minutes.