Migrant Remittances Newsletter Vol. 4 No. 1
The year 2006 ended with important advances in the remittances industry. From El Salvador and the Philippines to Moldova and Kenya, the growth of flows continued. Banking and non-banking financial institutions advanced their efforts to provide a range of financial services, while donors continued to find ways to leverage these flows. The guest article looks at remittances in times of natural disasters; the Research Note reviews the literature on conflict and remittances. These two issues, while seldom addressed, have played an important role in the intersection of remittances and development.
This coming year promises some continuity, but also further change and uncertainty. Industry competition and technological innovation will deepen throughout this period as opportunities to expand or better serve customers emerge. On the demand side, we expect to follow grassroots organizations seeking to protect migrant consumer rights on issues such as financial access and fair transaction costs. Meanwhile, politics will likely play an important role in shaping migration and remittance issues in the United States, Italy, Russia, and the Netherlands. For instance, many U.S. states have proposed legislation taxing remittances. As remittances are better understood, their policy implications and leveraging efforts will be followed attentively by many.