The Global Financial Crisis and Workers' Remittances to Africa

The Global Financial Crisis and Workers' Remittances to Africa
Author :
Publisher : International Monetary Fund
Total Pages : 23
Release :
ISBN-10 : 9781451962413
ISBN-13 : 145196241X
Rating : 4/5 (41X Downloads)

Book Synopsis The Global Financial Crisis and Workers' Remittances to Africa by : Mr.Ralph Chami

Download or read book The Global Financial Crisis and Workers' Remittances to Africa written by Mr.Ralph Chami and published by International Monetary Fund. This book was released on 2010-01-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data on the distribution of migrants from Africa, GDP growth forecasts for host countries, and after estimating remittance multipliers in recipient countries, this paper estimates the impact of the global economic crisis on African GDP via the remittance channel during 2009-2010. It forecasts remittance declines into African countries of between 3 and 14 percentage points, with migrants to Europe hardest hit while migrants within Africa relatively unaffected by the crisis. The estimated impact on GDP for relatively remittance-dependent countries is 2 percent for 2009, but will likely be short-lived, as host country income is projected to rise in 2010.


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