Money from Siberia (Part 1 of 3 of a Kiva Fellows’ series on Remittances)

By Rob Packer, KF9 Kyrgyzstan

This is a repost from the Kiva Fellows’ Blog and is part one of a three-part post on remittances with other posts by Meg Gray (KF9, Nicaragua) and Agnes Chu (KF9, Samoa).

In the US or Western Europe, we often think about remittances as something that people send from our home countries back to their families in Mexico, Ghana, the Philippines, Ecuador, and so on. Remittances and the hope of wealth are the one of the driving forces in all kinds of global migration, so it seems fitting that the subject of remittances is a recurring theme in the United Nations Development Program’s Human Development Report from October 2009, which this year focuses on migration and aims to “challenge our preconceptions”. While movement from the West to developing world is one side to the story of remittances, it is not the only side: remittances do not necessarily touch the “rich world” of North America or Western Europe, or they can linger below the radar and have an enormous impact on countries where people are barely aware that they have an emigrant community. The three Kiva Fellows contributing to this co-ordinated post are posted in the countries currently hosting a Kiva Fellow and where remittances make up the largest percentage of the country’s gross domestic product (data from the World Bank): Samoa (22.8% of GDP), Nicaragua (12.9% of GDP) and Kyrgyzstan (19.1% of GDP). (read more…)

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