1. Remittances: Latin America's Faulty Lifeline
- Author:
- Catherine Elton
- Publication Date:
- 03-2006
- Content Type:
- Policy Brief
- Institution:
- MIT Center for International Studies
- Abstract:
- In recent years, the money that migrants send back to their native countries has become a hot topic in international development circles. Multilateral banks, the governments of migrant-sending nations, the U.S. Government, and international development organizations laud the potential that remittances have to reduce poverty and promote development. Remittances are being exalted as “the new development finance,” and a ticket to “high human development,” while the migrants who send them are hailed as heroes back home. But the current remittance euphoria is both overblown and troubling when considered in a larger context of international development.
- Topic:
- International Relations, Economics, and International Trade and Finance
- Political Geography:
- United States and South America