The money that migrants send back home concerns everyone. Remittances have an impact on the GDP of the countries the money is sent to, contributing up to 30% in some cases, while having a significant impact on the country’s balance of payments. They also produce effects on the sending societies — on their central banks, their development agencies, as well as the private sector. The phenomenon’s multi-faceted nature requires a holistic approach to remittances in terms of space, time, and government.
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