In recent years, Somali money transfer operators (MTOs), which represent the only legitimate mechanism through which the Somali diaspora can send money to their loved ones in Somalia, have struggled to maintain bank accounts. Remittances play a vital role in supporting vulnerable Somali families, with 41 percent of urban-dwelling Somalis receiving remittances. They spend the vast majority of the cash to meet basic needs like food, shelter, health care, and education.Read more
Remittances – money sent home by people working abroad – are hugely important in developing countries. In Burundi, they are vital.
Two thirds of this small African nation’s population live on less than $190 a year, so this cash plays a significant role in smoothing volatile, often vulnerable, incomes. The average remittance-receiving family relies on funds from relatives abroad for 61% of household expenditures.
Mexicans took advantage of the firming U.S. labor market and a weakening peso against the dollar to send a lot more money home to families in July, as remittances overtake crude oil this year as a source of dollar inflows to Mexico.
Mexicans sent home $2.23 billion in July, a 12% increase over the amount transferred in July 2014, which brought the total for the first seven months of the year to $14.3 billion, up 5% from the comparable period of 2014, the Bank of Mexico said Tuesday.
In a small village of Sindhupalchok district, Swarthok, about 50 kilometre east of Kathmandu, Jeeban Puri was busy constructing a temporary shelter for his family. Around 90 houses including his were flattened by the 7.8 Richter scale earthquake that struck Nepal on April 25–killing almost 9,000 people.Read more
Migrante party-list, a group protecting the rights of overseas Filipino workers, has declared the success of Friday’s “Zero Remittance Day.”
“We declare today’s Zero Remittance Day a success and resounding declaration of OFWs’ unity and collective action against any and all moves by the Aquino government to scam us and treat us as nothing but milking cows.
Il denaro inviato dagli immigrati verso i Paesi d’origine sono una risorsa fondamentale per lo sviluppo. L’Italia al quinto posto tra le fonti
I fan “dell’aiutiamoli a casa loro” è bene che lo sappiano: quelli che davvero e più sostengono i Paesi in via di sviluppo sono i migranti stessi.
Source: The Economist
“I THINK everyone in this country…has a dream hidden away in their heads, the secret dream of land, a small plot of land that makes them feel secure, a hidden reserve against the thousand misfortunes that might happen.” So says Pilar Ángel, one of three siblings who are the narrators of “La Oculta”, a new novel by Héctor Abad Faciolince, one of Colombia’s leading writers.
Source by NewsHours
Each year more than US$60 billion in remittances is sent to and within Africa but often at great expense. Finding ways to leverage this powerful financial and development force by making remittance services more affordable and accessible to rural people is the focus of the first African Conference on Remittances and Postal Networks, 4-5 Marchin Cape Town, South Africa, hosted by the International Fund for Agricultural Development (IFAD).
Souce: Malise Otoo
Rome — THE International Fund for Agriculture Development (IFAD), a specialized agency of the United Nations, is later on Monday scheduled to open a three-day conference on rural poverty and agriculture development in the world.
The seminar scheduled for Rome, Italy will seek to highlight the issues pertaining to rural poverty and attempt to find tune lasting solutions for these problems.