Issue paper: Definition of remittances. Technical Subgroup on Movement of Persons – Mode 4 (New York, 22 - 24 February 2006). Overview. Background Personal transfers Personal remittances Total remittances. Background.
Technical Subgroup on
Movement of Persons – Mode 4
(New York, 22 - 24 February 2006)
Reconcile the differences and resubmit to AEG and BOPCOM
Personal transfers consist of all current transfers in cash or in kind made, or received, by resident households to or from other non-resident households
BOPCOM: Agree with definition. Workers remittances supplementary item to maintain time series.
AEG: Suggests possible inclusion of capital transfers
Personal remittances = compensation of employees – social contributions + personal transfers + capital transfers between households
Personal remittances + social benefits
Social benefits is likely to be an item of the standard presentation.
Total remittances = personal remittances + social benefits + current transfers to NPISHs
BOPCOM: Agree with above definition.
AEG: Agree but raise issue of whether to include capital transfers.