Migrants contribute to economies of developing countries: IOM

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Remittances

Migrants are making an important contribution to the economies of developing countries by sending remittances, says the International Organization for Migration (IOM).

The head of IOM, William Lacy Swing is attending a meeting of government leaders from 51 countries in Dhaka, the capital of Bangladesh, to discuss future global trends in population dynamics.

The meeting is part of a series of eleven United Nations thematic consultations organized globally to discuss what will happen after 2015, the deadline of the Millennium Development Goals (MDGs).

IOM spokesperson, Jumbe Omari Jumbe says migration affects many of the MDGs including the goal of eradicating extreme poverty by cutting in half the number of people who live on less than a dollar a day by 2015.

"When we look at the statistics, just last year, 2012, the remittances which were sent to the developing countries by the migrants, topped the amount of $406 billion in one year, and that amount is bigger than the amount of Director Foreign Investment, direct aid which comes from developed countries to the developing countries and Africa had a share of $60 billion from the remittances last year." (29")

Jumbe Omari Jumbe says this money is used in many areas including education for children, health care and general welfare.

That's why IOM says that migration lies at the heart of population dynamics and plays an important role in development, Mr. Jumbe added.

Gerry Adams, United Nations.

Duration: 1’43″

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