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United Nations

March 17, 2016 in News Tags: ,

A recent study of the corridors between France and the Comoros, Mali, Morocco and Senegal shows that money transfer costs are still quite high. The cost of transfer-ring 300 varied from 10 to 29 bank transfer the cheapest, while transfer through Western Union what the most costly (BAfD 2007, 27). Recommendations for fiscal political action A resolution on international migration and development which adopted by the United Nations General Assembly in 2004. It calls upon all relevant entities of the United Nations system and other relevant intergovernmental, regional and sub-regional organizations to adopt policies and undertake measures to reduce the transfer costs of migrant remittances to less priviledged countries. Further, one item of the action plan to achieve the MDGs (Millennium development goals), 2004, agreed upon at the Group of eight (G8) Summit, is to facilitate remittance support to families and SMEs. In 2007, the first global forum on international migration of which organized, with the participation of 155 countries.The forum is a global process designed to enhance the positive impact of migration on development (and vice versa) by adopting a more consistent policy approach, identifying new instruments and best practices, ex changing know-how and experience and establishing cooperative links among the various actors involved.

Participating governments agreed that migration should not become on alternative to national development strategies in developing countries. It is important that migrants and recipient communities gain a better understanding of the various options for remitting and receiving. In particular, migrants and recipient communities need access to local finance institutions, emergency only because of the lower remittance costs, but so because of the greater opportunities to initiate or increase their savings and their access to other financial services such as housing loans. New technologies may therefore help lower the cost of remittance transfers and allow migrants and to send home to their families at and receive remittances with greater ease. One of the popular techniques in the Americas is the use of automatic teller machine (ATM) / debit card transfer services, which are being offered by a growing number of private banks.

When migrant workers enrol in such programmes, they are issued a debit card to be used by a designated person in the home country. The cost of this type of transfer less than can be half the cost of a traditional transfer. REFERENCES WORLD MIGRATION REPORT 2010 (IOM) the future of migration, building capacity for change WORLD BANK, Sept. 2010 migration and remittances INTERNATIONAL ORGANIZATION FOR MIGRATION (IOM) remittances and the movement of workers ILO GTFA Conference, Geneva, 21 June 2010 IFAD FAO – international migration, remittances and rural development, 2008 by the International Fund for agricultural development (IFAD) THE FINBANCIAL EXPRESS, 14 Jul 2010 Dr. Norbert W. Knoll by Jess is Professor (adj.ass.) of economic and fiscal policy at the International University of Entreprenology, Honolulu, Hawaii, United States, and General Secretary of WUSME World Union of small and medium enterprises with headquarters in the Republic of San Marino

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