Saturday, 7 March 2009

SRI LANKA: Remittances and impact on development and poverty reduction

Sri Lanka is a comparatively small open market economy with a large expatriate labour force that sends substantial remittances to the country. In 2007, remittances were around 11% of GDP.

As in many other developing nations, Sri Lanka’s official records show that remittances have grown dramatically over the past decade. Nevertheless, the role remittances plays in development as well as the growth effect of this unconditional migrant assistance is under-researched and needs more development policy-oriented attention. In the meantime, the protracted civil war has elevated the importance of this injection of foreign exchange into the national economy. Read more

1 comment:

  1. Since the war is over now government of Sri Lanka should study wether SL should continue to send house maids to middle east considering the hard ships they undergo and the resultent social problems that have emerged in absent-mother situations in rural villages.