Published on NextBillion.net - Development Through Enterprise (http://www.nextbillion.net)

Remittances: The New York Times Gets It

By williamkramer
Created Nov 2 2006 - 11:31
Today's New York Times has an editorial "Wiring Development [1]" that, to my mind, picks up on what is really important from the IADB remittance stud [2]y [3], "Sending Money Home", namely the opportunity for Latin American banks to turn remittance recipients (and senders, too) into real, creditworthy customers, and to add a substantial part of the money stream into productive working capital, deepens the financial sectors of recipient countries, and begins to provide the financial literacy so critical to poverty alleviation. After a spate of mis [3]-directed [3] coverage [3], it's gratifying to see that the newspaper of record sees the positive big picture.


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