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Migration and Remittances

Remittances to developing countries decline for an unprecedented 2nd year in a row

Dilip Ratha's picture
We just launched the latest edition of the Migration and Development Brief and an accompanying Press Release.
 
Remittances to developing countries decreased by 2.4 percent to an estimated $429 billion in 2016. This is the second consecutive year that remittances have declined. Such a trend has not been seen in the last 30 years. Even during the global financial crisis, remittances contracted only during 2009, bouncing back in the following year.

Trends in Remittances, 2016: A New Normal of Slow Growth

Dilip Ratha's picture
Against a backdrop of tepid global growth, remittance flows to low and middle income countries (LMICs) seem to have entered a “new normal” of slow growth. In 2016, remittance flows to LMICs are projected to reach $442 billion, marking an increase of 0.8 percent over 2015 (figure 1 and table 1). The modest recovery in 2016 is largely driven by the increase in remittance flows to Latin America and the Caribbean on the back of a stronger economy in the United States; by contrast remittance flows to all other developing regions either declined or recorded a deceleration in growth.  

In 2015 the cost of sending remittances to Central America and the Dominican Republic decreased

During 2015 the cost of sending remittances to Central America and the Dominican Republic was reduced.  This result, obtained from the database of Envía CentroAmérica, is a positive one as these countries are major recipients of remittances from abroad.  In fact, four of them -Guatemala, El Salvador, Honduras and the Dominican Republic - stand out among the top 25 emerging economies recipients of international remittances.

Refugee stories from Idomeni and Europe’s baffled response

Georgia-Christina Kosmidou's picture
A newborn baby receives its first shower with cold bottled water, outside the tent where it was delivered, in the make-shift tent city of Idomeni, Greece. At the same time, two patients diagnosed with Hepatitis A, one of them a 9-year old Syrian girl, are removed from the camp in order to be hospitalized.

Migration and Violent Extremism in Contemporary Europe

Khalid Koser's picture

There is rising concern in Europe that massive flows of refugees and migrants from Syria may be infiltrated by terrorist groups such as Da’esh. In recent months President Milos Zeman of the Czech Republic, Slovakia’s Prime Minister Robert Fico, and Italy’s Foreign Minister Paolo Gentiloni have all made public statements about the risk; and unfortunately attention is still being given to the fact that a Syrian passport – albeit a fake – was found by the body of one of the perpetrators of the Bataclan outrage in Paris.

Call for papers: Development policies that facilitate internal migration

Dilip Ratha's picture

BACKGROUND
The World Bank’s the Global Knowledge Partnership on Migration and Development (KNOMAD) program is a global hub of knowledge and policy expertise on migration and development issues. Among 13 TWGs, the Thematic Working Group on Internal Migration and Urbanization (TWG 12) aims to better understand the relationship between internal migration and development including rural/urban development, by identifying good practices that help develop sustainable livelihoods, create jobs in rural and urban areas and increase connectivity between rural and urban areas, while leveraging the migration process for poverty reduction and development. In this context, this call for papers aims to bring researchers to analyze and evaluate development policies which have influenced the outcome of internal migration, for migrants and their families, as well as for migrant host and sending communities.
 

Would investing in financial literacy help reduce the use of informal channels?

Ibrahim Sirkeci's picture

Reducing remittance costs are recognized as a vital element of the financing for development strategy and is one of the targets in the Sustainable Development Goals and the Addis Ababa Action Agenda. However, studies show that remittances remain to be a private affair operating mostly at household level.

It is also expected that reduced costs would encourage use of formal channels such as banks and money transfer operators. There are increasingly more money transfer operators in the market offering lower costs among the mainstream MTOs and digital ones. Mobile phone companies and many small operators are also competing on costs. Dilip Ratha clearly puts the argument for reduced costs in his TED talk.

Humanitarians working on cash transfer and remittance researchers need to work together

Kevin Savage's picture
I had the pleasure of attending a workshop organized by KNOMAD at which a cross-disciplinary group of researchers (economics, anthropology, law, health, finance) came together to consider how to strengthen the evidence base of understanding remittances to and from refugees and IDPs.

How do we measure impacts of refugees and IDPs on host countries and host communities?

Kirsten Schuettler's picture

Nearly 60 million persons were forcibly displaced worldwide due to conflict and persecution at the end of 2014—the highest number since World War II. Forced displacement is not only a humanitarian issue, but also has important economic, social, political, and environmental impacts on the places of origin and destination. The development impacts of forced displacement, however, remain poorly understood. There is very limited work to date on the socioeconomic impact of refugees on host and regional economies. Social scientists have largely neglected these important policy and conceptual challenges, in contrast to the countless qualitative studies on refugee livelihoods. As the number of protracted displacement situations is increasing, the lack of rigorous impact assessments is a major gap that needs to be filled. Recently, a number of calls for proposals on the topic have been issued and case studies have been undertaken by the World Bank, UNHCR, independent researchers, and other actors. Efforts have also been made to develop a coherent methodology on how to measure the impacts of forced displacement.

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