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Leveraging Remittances for Development Dilip Ratha World Bank OAS, Washington, DC April 17, 2012

Leveraging Remittances for Development Dilip Ratha World Bank OAS, Washington, DC April 17, 2012. After a modest decline in 2009, remittances have grown steadily, reaching $370 bn in 2011. Source : Migration and Remittances Unit, World Bank. Remittance flows to developing countries.

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Leveraging Remittances for Development Dilip Ratha World Bank OAS, Washington, DC April 17, 2012

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  1. Leveraging Remittances for Development DilipRatha World Bank OAS, Washington, DC April 17, 2012

  2. After a modest decline in 2009, remittances have grown steadily, reaching $370 bn in 2011 Source: Migration and Remittances Unit, World Bank

  3. Remittance flows to developing countries

  4. Remittance to Latin American countries have started growing after sharp decline during financial crisis

  5. 1. Monitoring, analysis, projection 3. Financial access 4. Capital market access International Remittances Agenda 2. Retail payment systems

  6. 1. Monitoring, analysis, projection • Size, corridors, channels • Counter-cyclicality • Effects on poverty, education, health, investment • Policy (costs, competition, exchange controls) • 3. Financial access • Deposit and saving products • Loan products (mortgages, consumer loans, microfinance) • Credit history for MFI clients • Insurance products • 4. Capital market access • Private banks and corporations (securitization) • Governments (diaspora bonds) • Sovereign credit rating International Remittances Agenda • 2. Retail payment systems • Payment platforms/instruments • Regulation (clearing and settlement, capital adequacy, exchange controls, disclosure, cross-border arbitration) • Anti-money laundering/Countering financing of terrorism (AML/CFT)

  7. Global Knowledge Partnership on Migration and Development

  8. Objectives An open, multidisciplinary platform Generate a menu of policy choices based on evidence and peer-review Pilot policy operations and capacity building efforts

  9. Data and other resources are available at www.worldbank.org/migration

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