Ten years ago, it was typical for 20 percent or more of the money a migrant worker sent to his or her family in a developing nation to be eaten up by transmission costs. Thanks to factors including increased competition and technological advances, that percentage has dropped steadily over the past decade, so that […]
Havana is not alone in its judgment that the Obama administration has not done enough in its first year to achieve rapprochement. Analysts have been voicing their dissatisfaction in connection with the end of year one: the Center for International Policy’s critique sums up the main complaints that have been circulating. Over-arching thesis: “Obama is […]
Last week President Barack Obama granted Temporary Protected Status (TPS) to Haitians for a period of 18 months. This applies those already living in the US, but without legal papers. It prevents their detainment or deportation, and enables them to work legally. The purpose of this status is to protect persons who cannot return to […]
As with the international aid community, Haitians living overseas are seeking ways to help from a distance after a devastating earthquake struck Port-au-Prince on Tuesday evening. Many migrants already send significant proportions of their earnings each week or month in the form of remittances. Rather than foreign assistance from governments, they may provide the most […]
Somalia does not often benefit from positive stories in the press. At present it is probably best known for its ongoing civil war – which has lasted for nearly two decades – pirates operating along its coasts, and recently, reporting on the return of young Somalis from Minnesota to fight for the Shabaab, a group […]
Hudson Institute released the Index of Global Philanthropy and Remittances for 2009. The full report and executive summary are available. Once again, the Index shows that Remittances are a larger percentage of U.S. Economic Engagement in Developing Countries than Official Development Assistance and Private Philanthropy. Private capital flows are slightly higher. The Index confirms that […]
With the global economic crisis still dominating headlines following inconclusive results from Davos, I’d like to focus on two effects on Mexico’s economy. One indicator is remittances. Worldwide, remittances bring in several times more money than foriegn aid. In Mexico, these bring in the second-largest amount of foreign money after oil. In 2008, remittances slowed […]