According to recent reports more than 70 percent of people in Latin America lack access to such basic financial services as a checking or savings account.
The new report from the World Economic Forum ranked the U.S. on the top and Chad on the bottom in this year's global competitiveness survey.
Offshore tutors and personal assistants are the latest development in outsourcing. Not surprisingly, India is a leader in this person-to-person offshoring, estimated to reach $2 billion by 2015.
The total bottom of the pyramid household market for information and communication technologies (ICT) is estimated at $51.4 billion and includes 3.96 billion people with annual incomes below $3000.
Global recorded remittances to developing countries reached $204 billion in 2006. This amount, which has been growing at almost 30 percent a year, is twice the size of total development aid.
Remittances hold a big promise for development but a lack of transparency and a high volume of unrecorded money flows, pose security risks and keep the costs high.
Always wondered what goes on in the World Bank's sister organization? Today the IMF launches its very own Public Financial Management Blog (PFM Blog).