Apr 13, 2011
The exodus of migrants streaming out of Libya due to ongoing unrest has highlighted the heavy dependence of some countries on remittances from their citizens working abroad. In several countries this flow has now become choked. 'With thousands returning home the economic impact of the unrest in Libya is that remittances will be reduced,' Dr. Mizanur Rahman, economist and research fellow at the National University of Singapore told IPS. Recent World Bank statistics indicate that developing countries got more than 325 billion dollars last year from migrant worker remittances, outstripping foreign direct investment and development assistance combined.
































