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Why taxing remittances is a bad idea

Dilip Ratha's picture
In 2016, migrant remittance flows to developing countries amounted to $440 billion, more than three times the size of official development aid flows. In many countries, remittances are the largest source of foreign exchange. In India and Mexico, they are larger than foreign direct investment; in Egypt, they are larger than the revenue from Suez Canal; and in Pakistan, they are larger than the country’s international reserves.

Looking to the future: Ensuring better job opportunities for Tajikistan’s youth

Mohamed Ihsan Ajwad's picture
A significant share of Tajikistan’s workforce works outside the country. 
Photo: Gennadiy Ratushenko / World Bank

My colleague Victoria and I had an opportunity recently to meet with students at the Tajik-Russian Slavonic University in Dushanbe, Tajikistan, as part of our research and preparation for a new report called Tajikistan Jobs Diagnostic: Strategic Framework for Jobs.

Curious to learn about their future professional ambitions, we asked one class of students how many of them would like to work in the private sector after they graduate. Only about 10% of the students raised their hands. We also asked them how many would like to work for the government. This time, around 20% raised their hands.

Digital Remittances and Global Financial Health

John Kunze's picture
In 2015, there were 244 million international immigrants – the highest number ever recorded and up 12 million from 2013. The 2016 numbers will no doubt be higher. Many immigrants move to new countries in search of a better life. Some are escaping poverty, war, or famine; others are seeking an education; and some simply want to start anew.

A second regularization campaign for irregular immigrants in Morocco: When emigration countries become immigration countries

Kirsten Schuettler's picture
How to deal with irregular migrants is not only discussed in the United States. Also low- and middle- income countries need to find answers to this question. Morocco launched a second regularization campaign last month. Although it is still primarily an emigration country, Morocco has increasingly become a transit and also an immigration country. Since the 2000s it has received an increasing number of migrants and refugees from sub-Saharan Africa, Syria, and Europe.

Demonetization in India: Short and long term impact on remittances.

Supriyo De's picture
In observance of the International Migrants Day, Dec 18

The Indian government issued orders withdrawing the validity of existing high denomination (Rs. 500 and Rs. 1000) currency notes on 8th November 2016. Newer currency notes (Rs. 500 and Rs. 2000) were issued subsequently. The move was aimed at tackling counterfeit currency notes and those hoarding untaxed or illicit income. The impact on formal international inward remittances was minimal.  MTOs doing cash payouts were impacted in the short run due to unavailability of large denomination currency. Families of migrants also reported problems in withdrawing remittances from ATMs. Formal international outflows were not affected since these are usually made out of bank accounts.

The Business Case for Migration promoted by the Federation of Indian Chambers of Commerce and Industry (FICCI)

In observance of the International Migrants Day, Dec 18

We live in an increasingly globalizing world, characterized by the transnational movement of goods, services, people and ideas. Yet, the merits of international migration have been underestimated. In fact, migration has recently been at the wrong end of the stick; its discourse the world over driven by political rhetoric with populism, xenophobia, issues of security and the flag of sovereignty and nationality as its principal tools.
 

Migration and Development: A Global Compact on Migration

Dilip Ratha's picture
In observance of the International Migrants Day, Dec 18

The 9th Global Forum on Migration and Development marked a successful continuation of a global process that addresses one of the most contentious issues in the global development agenda. As States intensify efforts to define the Global Compact on Safe, Orderly, Regular Migration, there is a need to systematically identity core thematic elements, the normative framework, and a process of meetings and negotiations in the run-up to the proposed UN International Conference in 2018.

What if Africa calls upon its diaspora to boost economic transformation?

Nadege Desiree Yameogo's picture
In observance of the International Migrants Day, Dec 18

The stock of African migrants in 2015 was estimated at about 23.2 million (Migration and Remittances Factbook 2016: and the top emigration countries are mostly fragile and poor (see Table 1). About 31.1% of Sub-Saharan Africans migrate to high-income countries compared to 90% in North Africa. The leading destination of these migrants include France, Saudi Arabia, USA, UK, Spain, and Italy. The second generation of African diaspora in the Western hemisphere was estimated at 1.1 million in 2012, and most of them live in Australia, Europe, and the USA.
 

Putting the spot-light on worker-paid recruitment cost

Ganesh Seshan's picture
In observance of the International Migrants Day, Dec 18

The United Nations 2030 Sustainable Development Agenda, in particular Goal 10.7, calls for a facilitating safe, orderly and responsible migration through the implementation of planned and well-managed migration policies.
 

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