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Immigrants Build Houses in Mexico with Remittances- The Case of Construmex
Many immigrants come to work in the US, and when they do, they usually leave family behind. Often, their primary objective is to make money and provide for their families back home. Some companies - like the Mexico-based multinational cement giant CEMEX - are taking advantage of this situation...
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- Uncategorized
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- migrants, remittances
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Call for caution over migrants’ cash
The World Bank will on Tuesday urge policymakers to take a more cautious approach towards the development potential of remittances, the multi-billion dollar financial flows sent home by migrant workers in North America, Europe and Asia. In a report analysing their significance in Latin America and the Caribbean, bank economists argue that remittances are not ?manna from heaven?, that the benefits have been ?overestimated? and that associated social and economic costs in developing cou...
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- migrants
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Migrants’ Money is Imperfect Cure for Poor Nations
It’s the sort of scene that many development economists believe could transform some of the world’s most impoverished regions, by putting cash directly in the pockets of the poor. With tens of millions of migrants around the globe sending remittances home, the flood of money has grown immense -- $167 billion last year, according to the World Bank. This lively mountain town survives on money sent from its sons and daughters living in the U.S. On days payments arrive, lines at the lo...
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- migrants
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US Banks Woo Migrants, Legal or Otherwise
As U.S. leaders craft policies to curb illegal immigration from Mexico, the U.S. Federal Reserve is devising programs to extend banking services to undocumented immigrants. A new remittance program aims to bring Mexican migrants who send money home into the mainstream U.S. financial system, regardless of their immigration status. Dubbed Directo a Mexico, the remittance program enables U.S. commercial banks to make money transfers for Mexican workers through the Federal Res...
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- migrants
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Immigrants from India spread business success to homeland
Excerpt: Bhatia and many thousands of Indian immigrants with strong ties to the USA and India are storming back to their ancestral homeland to cultivate business and cut deals. With 1 billion people, a rising wave of consumers and annual economic growth of 8% since 2004, India is the world’s most promising economy after China....
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- migrants
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Helping Immigrants Better Help those they Left Behind
"The motive of immigrants is to come here, get a job and to work hard and send money back home to support their family"- Atsumasa Tochisako, the chief executive of Microfinance International CorporationThe New York Times quoted Mr. Tochisako in the article “Entrepreneurs Cater...
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- Uncategorized
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- migrants
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UN postal agency unveils plan for migrants to send money back home electronically
Migrant workers around the world will soon be able to send money back home by efficient and reliable electronic transfers, eliminating the paper and manual work now involved with traditional postal money orders, under a joint project announced today by the United Nations postal agency. ?There is a strong trend for overseas workers to send part of their earnings home to their families, but the market response to this issue has so far been inadequate,? Universal Postal Union (UPU) Director-G...
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- UN News Centre
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- migrants
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Help Migrants Wire Home Hope
African states could work closely with the private sector to modernise their weak financial service infrastructure, especially banking sector technology. This is crucial not only to improving access to formal banking channels in sending and receiving countries, but also to bringing a significant portion of remittance receipts into the financial system. State actions against money laundering and against funds suspected of financing terrorism have had a marked effect on remittances funnelled throu...
- Source
- Business Day (Johannesburg)
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- migrants
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