The flows of remittances by migrants worldwide -- both recorded and unrecorded -- have become more than twice as large as the official aid received by developing countries and the greatest source of external financing for many of them.
Migrant persons are increasingly considered a driving force in the eradication of poverty and the promotion of sustainable household and community development.
At the global level, the 191 million migrants sent a total of 232 billion dollars in remittances during 2005; 54 billion dollars were sent to Latin America and the Caribbean.
The August 2007 issue of Voices of the South on Globalization on 'Migration - Benefits and Bane' can be downloaded in PDF:
REMITTANCES IN FOCUS
DEVELOPMENT TO CENTRE-STAGE IN MIGRATION DEBATE
ROBUST REMITTANCES GROWTH HELPS BANGLADESH
REMITTANCES TO GHANA SWELL TO 4.3 BILLION DOLLARS
MIGRATION COULD YIELD A 'TRIPLE WIN'
YOUNG FOREIGN WORKERS SHORE UP PENSION SYSTEMS IN EUROPE
GLOBAL FLOWS OF INTERNATIONAL MIGRANT REMITTANCES
Voices of the South on Globalization is published by IPS Europe