Remittances in ACP Countries :

Subtitle
Key Challenges and Ways Forward, Informing Discussions of the ACP-EU Dialogue on Migration and Development
Volume, number, page
188 p.
Year of Publication
2017
Author(s)
ISAACS Leon
Organization Name
International Organization for Migration
Acronym
IOM
Publisher
IOM
City
Brussels
Country of Publication
Belgium
Full Date
2017
Category
Books
Theme
Subregion - European Union
Country - European Union
Government
Civil Society
Keyword(s)
Remittances
ACP
Diaspora
Migration
International migration
Migration policy
Migrants
Migrant workers
Migration and Development
ACP-EU relationship
Abstract
Remittances that migrants send home play an important role in boosting the home country’s development as they are a steady, reliable source of investment that helps millions of individuals and households to raise living standards, improve health and education, provide capital for entrepreneurial pursuits and, in many instances, can foster financial inclusion. This is especially true for the African, Caribbean and Pacific (ACP) countries, which present some of the highest remittance dependency ratios in the world. Despite multiple efforts and international commitments, challenges still remain. Costs of sending remittances are high, and there are many obstacles to access affordable formal remittance channels.

The publication ACP Countries: Key Challenges and Ways Forward presents the main challenges that ACP countries face today in relation to remittances and provides nine possible ways forward to tackle these difficulties.