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:

Afrique:   Afrobasket U18 - L'Egypte aussi en demi-finales (news)
Africa Top Sports
29 July 2016

L'Egypte est le second pays à valider son ticket pour les demi-finales de l'Afrobasket U18. Les jeunes Pharaons, champions en titre, se sont imposés non sans peine devant le rival ... [read more]

Egypt/South Africa:   Helmi Quits As Coach of Zamalek (news)
Radio France Internationale
28 July 2016

Mohamed Helmi quit on Wednesday night as boss of Zamalek following his side's 1-0 defeat at Mamelodi Sundowns in the African Champions League. Defender Ali Gabr put through his own net in the closing ... [read more]

Malawi:   Egypt President Assures Chaponda Commitment to Working With Malawi (news)
Nyasa Times
28 July 2016

Egypt President Abdel Fattah El-Sisi has reaffirmed his country's commitment to continue working with Malawi in various sectors of the economy. He said, "Egypt is willing to continue working together ... [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!