Migrant Remittance Newsletter - April 2010 Issue (USAID/Inter-American Dialogue)
This is the first edition of the newsletter in 2010 but the last in the current format. We are currently exploring a move to a new web space that will expand newsletter coverage and interaction with the remittance community. Keep an eye out for an announcement later in the year.
In this issue we find a 6 percent decline in global flows, mixed with uneven trends, mirroring the impact of the recession in both home and host countries. This impact shows differences within and between regions, whereby growth and decline was part of a parallel pattern. Moreover, the year starts with the dramatic impact of the earthquake in Haiti, which raises questions about the relevance of remittances and Haitian migrant involvement in the reconstruction of their nation.
This briefing also highlights that the remittance marketplace and industry continue to trend toward greater innovation. More companies are exploring products and technology vehicles that meet the demands of migrant remittance senders. These include mobile transfer technologies but also expanding operations. Moreover, governments are continuing efforts to enable competition for groups other than banks, such as in Japan, as well as promote cooperative efforts to leverage remittances for development, such as a new initiative by the African Development Bank. Brazil’s country profile is presented in this issue, which is considered to be the second largest recipient in remittances to Latin America and the Caribbean.
Migrant Remittances is supported by USAID’s Microenterprise Development Office
- Remittances and financial sector development