Economy

Remittances High on Radar of World Economistsi
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Laurel Bowman
June 10, 2014 8:48 PM
Many migrants send small amounts of money - called "remittances" - home to friends and family members. But with 200 million international migrants out there, those small sums add up quickly. In 2013, migrants around the world sent back $400 billion, far outweighing official aid to many countries and sometimes providing the largest source of foreign exchange. This has economists wondering - can remittances boost not just a receiving family’s budget but their country's economy too? VOA's Laurel Bowman has more.

Remittances High on Radar of World Economists

Laurel Bowman

Published June 10, 2014

Many migrants send small amounts of money - called "remittances" - home to friends and family members. But with 200 million international migrants out there, those small sums add up quickly. In 2013, migrants around the world sent back $400 billion, far outweighing official aid to many countries and sometimes providing the largest source of foreign exchange. This has economists wondering - can remittances boost not just a receiving family’s budget but their country's economy too? VOA's Laurel Bowman has more.


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