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  • Reply to: Remittance flows set to recover this year, after two years of decline   1 month 1 week ago

    Dear Sir,
    On the issue of cost of remittance being high in sub-saharan region due to the exclusivity clause I was wondering if the national regulators of these African countries can bring about a regulation prohibiting such agreements. I presume then there would be some kind competition which can bring down the cost of sending money for the expats to their relatives back home.

  • Reply to: Lower Migration’s Costs and Raise Migration’s Benefits   4 months 2 weeks ago

    fees, illegal or higher than the government recommended levels are charged on both sides of the fence by agents or brokers, not just the middlemen in the villages. Collusion in the public and private partnership is rampant, bribery is widespread. The industry is opaque and transparency is needed across the entire process from pre and post departure.

  • Reply to: Why taxing remittances is a bad idea   7 months 1 day ago

    U.S. Representative Mike Rogers apparently did not read your blog, Dilip. On March 30 he introduced a bill to impose a 2% tax on remittances sent from the U.S. to any country in Latin America and the Caribbean. Revenue will be used to build The Wall along the southern U.S. border.

    the text of the bill is at: https://www.congress.gov/bill/115th-congress/house-bill/1813

    In a news piece, his staff pointed to Haiti and other LAC countries where remittances are large (>15%) of GDP as ones that benefit from porous U.S. borders and should therefore be made to pay for enhanced border protection. (See link )

  • Reply to: Mobilizing the diaspora for reconstruction of Haiti - via diaspora bonds   7 months 1 day ago

    You can find a comprehensive study on Remittances for Development Finance for Sri Lanka. An indepth study of remittances based funding solutions we wrote for Asian Development Bank who commissioned the study. it includes practical examples of how to structure diaspora bonds, remittances-backed bonds and a new product which Homestrings has created called: Migrant Endowment Savings Accounts to address the problem of collateral and financial inclusion for Returnee Migrants. The report was commended by the government of Sri Lanka in an honorable mention at an OECD-ILO-ADB institute rountable on Migration in february 2017. please google: ADB Promoting Remittances for Development Finance - Sri Lanka feasibility Study. Please feel to contact me if you have any questions on the study.

  • Reply to: Why taxing remittances is a bad idea   8 months 1 hour ago

    Thanks for your comment, Kaushik. Typically the officially recorded data on remittances tend to underestimate the true size, among other reasons, due to the difficulties of measuring flows through informal channels. When the cost of sending money Is high, or difficult due to exchange controls imposed by the governments on either side, migrants are forced to use informal channels. A discussion of the definitions, methods and pitfalls of measuring remittances can be found on page viii of the Migration and Remittances Factbook 2016. Kindly see link: https://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1199807908806/4549025-1450455807487/Factbookpart1.pdf.