International migration and migrant remittances

Migration and migrant remittances are two inseparable phenomena. They improve not only economic budgets, but also development budgets at the individual, national and regional levels. Their impact depends on the interest Governments attach to remittances; either because they enhance opportunities for development, or because Governments wish to reduce the likelihood of such remittances being misused by the world financial system for such illegal purposes as money laundering, narcotics and financing for terrorism. Material and in-kind migrant remittances are major factors that demonstrate the real impact of the returns on international migration, regardless of any reservation made as to their use at the domestic or macro-economic levels. Any such reservation would be irrelevant unless discussed in light of the social context of remittance sending and receiving countries, and of the living conditions of migrants before their migration.

Related Subject(s): Population and Demography