Making Migrant Dollars Go Far
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WASHINGTON — Once every month, the average immigrant in the United States steps into a money-transfer facility and wires approximately $250 overseas. Minutes later somewhere around the world, a relative or friend can step into a similar facility and receive the cash — minus fees and other transfer expenses. This transnational economic activity, repeating itself millions of times every month, added up to about $274 billion worldwide last year — a lifeline for millions in some of the poorest corners of the planet and an amount at least double all official foreign aid combined.
admin @ June 5, 2008