Remittances are a worldwide issue. All too often people associate “Remittances” with Africa or Asia. But remittances are a feature in any country where economic conditions are poor and where there are too many people for the jobs available. In these circumstances people migrate in the hope of finding work and being able to send money home to help feed and clothe family members who have remained behind.
This short video from the World Bank highlights conditions in Moldova, the poorest country in Europe. Its economy relies on money sent home by the hundreds of thousands of Moldovans who work outside the country. In the current global economic environment, it is inevitable that remittances will fall. Although it is still too early to tell by exactly how much, it is clear that declining remittances could have a large impact on families trying to cope with the economic downturn.
