International Transactions in Remittances

International Transactions in Remittances

4.11 - 1251 ratings - Source

From 2001 to 2007, remittance receipts reported in the IMF's Balance of payments statistics yearbook (measured as global receipts of qworkers' remittancesq and qcompensation of employeesq) more than doubled to US$336 billion. This sharp increase is linked to rising migration and labor mobility, more liberal and competitive financial intermediaries, and improved data recording. For some countries, receipts from remittances exceed receipts from the export of goods and services and from financial inflows on foreign direct investment. Despite the high level of interest in remittances, evidence suggests that data on remittances are less reliable than are data on many other items in the balance of payments accounts. Emerging from the January 2005 World Bank/IMF meeting was a consensus that a process for improving data on remittances required two steps: first, simplifying, clarifying, and expanding the definitions of remittance-related items to meet the needs of data users; second, developing practical compilation guidance to support compilers. The purpose of this publication is to promote lasting improvements in remittances data.--Publisher's descriptionAvailable via the Internet: boleco/2006/be0607e.pdf. ... Centre for Latin American Monetary Studies (CEMLA), 2006, Draft Manual on Best Practices for the Compilation of International Remittances (Mexico City). ... World Bank, 2006, aquot;General Principles for International Remittance Services, aquot; Consultative Report, CPSS Publication No ... to Developing Countries: A Survey with Central Banks on Selected Public Policy Issues, aquot; Policy Research Working Paper Noanbsp;...

Title:International Transactions in Remittances
Author:International Monetary Fund


You Must CONTINUE and create a free account to access unlimited downloads & streaming