Reframing Remittances

The NYTimes reports on how Dilip Ratha reframed the remittances debate:

Mr. Ratha has argued that the importance of the money exceeds its sheer size. Unlike foreign aid, it cannot be skimmed by potentates. Unlike investors who flee crises, migrants increase their giving during hard times. The money is directed to the needy. And Mr. Ratha contends it is well-monitored, too, by intimates on the sending end. “It comes with a lot of goodwill, advice, knowledge and punishment if necessary — keeping in mind the welfare of the recipient,” he said.