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Wednesday, November 03, 2004

World: Poor Increasingly Pay Own Way

from IPS News:
... the United Nations is predicting a dramatic increase in remittances of earning from migrant workers worldwide homeward.

Although numbers vary, both the World Bank and the Inter-American Development Bank (IDB) estimate that migrant earnings sent home will soon rise to over 150 billion dollars annually.

... in several countries, remittances are now the largest single source of foreign exchange, topping tea exports in Tajikistan, and amounting to over 30 percent of gross domestic product (GDP) in Tonga.

read full story ...


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