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The Remittance Marketplace: Prices, Policy and Financial Institutions |
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Over the past several months a growing number of countries, including the United States, have committed themselves to facilitating remittance transfers by immigrants who send money back to their home countries. Leaders of the major industrialized democracies and Russia at the annual summit of the Group of Eight (G8) countries that begins June 8, 2004 are expected to call for efforts to reduce the costs of transfers and to promote a greater role by banks and other financial institutions in an industry currently dominated by wire transfer firms. In January, leaders of the Western Hemisphere meeting at the Special Summit of the Americas in January called for the costs of remittances to be cut in half by 2008.
http://www.pewhispanic.org/site/docs/pdf/Remittances%20june%2004%20final.pdf |
