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Harnessing remittances for development

Experts call for better use of benefits

Money sent home by economic migrants working in foreign countries exceeded $300bn in 2010, and this vast and growing tide of income needs to be safeguarded and channelled so that it does the most good for families and economies in the world’s poor nations, experts said at a two-day UNCTAD meeting. The 14–15 February meeting was titled “Maximizing the development impact of remittances”, Carla September reports.

 

Speakers at the session included the Deputy Secretary-General of UNCTAD, high officials of migrant-sending and migrant-receiving countries, and high representatives of several international organizations, as well as members of the Global Migration Group, civil society and the private sector. They concluded that remittances are now a major economic force, and they must be better understood and harnessed for development ...


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