Total American dollars flowing to the developing world would have decreased significantly over the year had it not been for remittances. The most positive note for poor nations appears to rest in the surge in remittances sent by migrants to their families.
Developing nations received $122.4 billion in remittances from donor countries in 2006, boosting family incomes, and spurring economic growth and democratization, the report says.
Remittances rose by 16 percent, twice the amount of charitable giving. They account for 37 percent of private flow.
[Christian Science Monitor]
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