Total global remittances are expected to grow by 3.7pc to $715bn (€627bn) in 2019. The money paid by often low- and moderately-paid workers to families at home dwarves the value of global aid. Foreign aid from official donors totalled $146.6bn in 2017, according to the latest OECD data. Once final figures have been determined, remittances to developing countries increased by 10.8pc to reach $528bn last year. Total global remittances, including flows to high-income countries are projected to grow by 10.3pc to $689bn, according to the World Bank. The moderation of growth in payments home reflects an expected easing in global growth. While Ireland no longer benefits from emigrant remittances – a mainstay of the economy here in the mid-20th century – Irish business are involved. The Denis O’Brien-owned Digicel has a Mobile Money service operating in a number of countries including Fiji, Papua New Guinea, Samoa, and Tonga. Similarly, Mark Roden’s Ding provides a phone app that allows users to send phone top-ups globally. Launched in 2006, the company has deals with 500 different mobile phone operators in over 140 countries around the world. Last year remittance flows rose in all regions. The biggest rises were in Europe and Central… Read full this story
- Stop Global AIDS
- Man won't see jail time after tying up, sexually assaulting 14-year-old
- Rudy L. Kusuma Continues to Sell Homes with Multiple Offers despite Reports of Current Real Estate Market Slowing Down
- Obama Unshackles Global AIDS Work
- Close Family Ties Between Queens Judges, Prosecutors, Raise Appearance Concerns
- This Is How Immigration Reform Happened 50 Years Ago. It Can Happen Again.
- Global defense spending to reach levels not seen since end of Cold War, says report
- Firefighters rescue dazed Queens family from carbon monoxide-poisoned home
- No jail time for man convicted of tying up, sexually assaulting 14-year-old girl
- Man who impersonated 'Family Ties' child star Brian Bonsall suspected of being serial rapist
Family ties: Immigrants will send almost €630bn home this year, a multiple of global aid spending have 315 words, post on www.independent.ie at January 3, 2019. This is cached page on Wordpress. If you want remove this page, please contact us.