Migrants' billions put aid in the shade

From Aid | The Guardian Wed Jan 30 2013, 13:35:48

Money transfers from workers abroad to family back home have tripled in a decade and are three times larger than global aid budgets

For decades it was a largely unnoticed feature of the global economy, a blip of a statistic that hinted at the tendency of expatriates to send a little pocket money back to families in their home countries.

But now, the flow of migrant money around the world has shot up to record levels as more people than ever cross borders to live and work abroad. It's known as remittance money, and in 2012 it topped $530bn (£335bn), according to the latest World Bank figures.

The amount has tripled in a decade and is now more than three times larger than total global aid budgets, sparking serious debate as to whether migration and the money it generates is a realistic alternative to just doling out aid. If remittances at the level recorded by the World Bank were a single economy, it would be the 22nd largest in the world, bigger than Iran or Argentina.

[view whole blog post ]
 See More    |     Report Abuse


You might also be interested in the following news stories:

Egypt:   New NGO Draft Law Further Undermines Fundamental Human Rights (press release)
Alkarama Foundation
29 September 2016

On 8 September 2016, the Cabinet of Egypt approved an alarming draft NGO law that is currently under review by the Egyptian Council of State. In light of the worrisome content of the draft law that ... [read more]

Egypt:   Divorce Rate Rises 83 Percent in 20 Years - Capmas (news)
Aswat Masriya
29 September 2016

The divorce rate in 2015 has increased by 83 percent compared to 1996, a study by the Central Agency for Public Mobilization and Statistics (CAPMAS) said. According to the study, the divorce rate ... [read more]

Egypt:   Egypt Court Orders Release of Journalist, Two Others Accused of Inciting Protests (news)
Aswat Masriya
29 September 2016

A criminal court ordered the release of journalist Mahmoud al-Saqqa and two others on bail on Thursday around five months after their arrest for inciting protests. Defence lawyer Mokhtar Mounir said ... [read more]



blogAfrica is allAfrica.com's platform to help you keep an ear on the African blogosphere. We draw diverse voices from around the world who post regularly and insightfully about African issues. Bloggers, submit your blog's rss-feed!