Cash sent back to Mexico goes fast, study says. Despite increasing migration, money sent home to Mexico is almost all spent on bare necessities for migrants' families, with little left over for investment that could create new jobs. Americans for Legal Immigration: Forums, July 8, 2005.

The Economy’s Underbelly. Philippines - Sending money through underground channels is risky. The workers can only delay sending money to their families by only so much as the latter have daily bills to meet. More dollars that come in by whichever route ultimately end up with the banks. Malaya, July 7, 2005.

Conference Examines Cutting Cost of Remittances in the Americas. Competition among banks and money transfer companies, and the application of new technologies, have helped to dramatically cut the cost of sending remittances to Latin America and the Caribbean. Washington File, July 1, 2005.

RECENT PUBLICATIONS

A Model of Migrants' Remittances with Human Capital Investment and Intrafamilial Transfers. This study analyzes data on migrants' remittances using a two- period theory of intergenerational transfers. The model provides an integrated theory of migrants' remittances, human capital investment decisions, and intrafamilial transfers applicable to low- income countries with no official pension schemes and imperfect capital markets. The International Migration Review, by Brown, Richard P C and Poirine, Bernard, Jul 1, 2005.

Crafting a Money Transfers Strategy: Guidance for Pro-Poor Financial Service Providers. This paper explores the operational and strategic considerations involved in launching a money transfer product. It shows an overview of global money transfers also describes the main types of transmission channels used to transfer funds and explores key issues such as how pro-poor financial services providers might begin to build a money transfers strategy. CGAP, March 2005.

Development and Remittances to Guatemala: Issues, Challenges And Opportunities for U.S. Cooperation. This briefing identifies potential opportunities to leverage the development impact of remittances in Guatemala. Based on interviews and data analysis on transfers and provides recommendations in several areas relating to U.S. aid. Produced by the United States Agency for International Development and prepared by Chemonics International Inc., February 2005.

Migrant Labor Remittances in South Asia. This paper provides a strategic overview of key issues relating to the remittance industry in the South Asia region. The paper builds on recentWorld Bank research on remittances that prominently features the SouthAsia region. The World Bank, by Samuel Munzele Maimbo, Richard H. Adams, Jr., Reena Aggarwal and Nikos Passas, 2005.

Remittances: Development Impact and Future Prospects. This book demonstrates that governments in developing countries increasingly recognize the importance of remittances flows and are quickly addressing these constraints. But there are more needs to be done to maximize the development impact and potential that remittances offer. The World Bank, by Samuel Munzele Maimbo , Dilip Ratha, June 2005.

Remittances: International Payments by Migrants. The paper discusses how payments sent home are classified and estimated, how remittances from the United States compare with other international financial flows (such as exports or foreign direct investment) and with remittances from other countries, what channels are used to send remittances, and what effects remittances have on the United States and recipient countries. The Congress of the United States, May 2005.

EVENTS
Past:

International Forum on Remittances 2005. The forum explored linkages among banking, technology, housing, securitization and gender. Sessions will be dedicated to improving central bank data, banking “unbanked” migrants in the United States, securitization of remittances, housing and remittances, and the role of gender in remittances transfers. Vendors will also demonstrate new banking and remittance technologies. Organized by the Multilateral Investment Fund - Inter-American Development Bank , June 28-30, 2005.

Clearing the Path to Hemispheric Growth: Expanding Credit to Create Jobs and Alleviate Poverty -- Inter American Academic Dialogue at the OAS General Assembly. This event focused on banking and credit access and emigrant remittances in the Western Hemisphere. Sponsored by OAS Office of Education, Science and Technology and organized by Summit of the Americas Center, Miami, June 4, 2005.

Caribbean Diasporas, Remittances and Development Conference Series. The meetings presented the results of new survey research on remittance flows from Canada to the Caribbean, remittance usage in the Caribbean, and the results of a mapping study of Information Communication Technology (ICT) usage by Caribbean Diasporas. Presented by the Multilateral Investment Fund – Canadian Foundation for the Americas, May 30, Toronto - May 31, Montreal, 2005.

The Second APEC Policy Dialogue on Remittances: The Role of the Private Sector in Shifting from Informal to Formal Remittance Systems. Role of the private sector in the remittances industry and how it can facilitate the shift to formal systems and enhance the development impact of remittances in the recipient economy. Organized by the World Bank, the Asian Development Bank and APEC Business Advisory Council (ABAC), Bangkok, Thailand, May 26-27, 2005.

NEWSLETTERS
 

Migrant Remittances. Migrant Remittances is jointly supported by USAID’s Microenterprise Development office and DFID.

LINKS

Livelihoods Connect: Remittances and Migration. A website created by the Institute of Development Studies and the U.K. Department for International Development.

A Technical Guide to Remittances: The Credit Union Experience.  Discusses the current operating environment for remittances, provides an overview of WOCCU's IRnet service and details how WOCCU has facilitated mass remittance distributions by partnering with money transfer operators.