Acton Institute Powerblog Archives

Post Tagged 'Remittances'

Diaspora-Driven Development

The African diaspora—nearly 140 million Africans live abroad—is such a major source of foreign income that it now outstrips foreign aid sent by Western donors. The money these expatriates send back home is collectively worth far more than the development donations sent by Western financial institutions, says Adams Bodomo: The exact amount of these remittances is unknown because not all of it is sent through official banking channels. Continue Reading...