Six Myths about Migrant Remittances and the Global Economic Crisis

Abstrakti

There was fear that the global economic crisis would interrupt the flow of remittances to developing countries, force migrants to return to their sending households and endanger the economic health of sending nations. However, anxiety over the collapse of remittances was largely unfounded. While there was a small decline in remittance flows globally in 2009, in general, they did not fall as far or as quickly as other forms of assistance and they have begun to recover. In this paper we examine a series of myths that colour the remittance debate. Debunking the myths that surround remittances allows us to show the complex role remittances play for migrants, their sending households and communities as developing nations cope with the global economic crisis.