When a Moroccan fruit-seller closes his stand each evening at the Porta Palazzo market in Turin, Italy, he thinks about how much money he made that day, how much he can send to his family back in Morocco that week, how much it will cost to send that money, and how many Dirhams his family will receive.
What does the sudden appreciation of the Swiss franc mean for the Eurozone? Will Russia's financial distress spill over to its neighbors? How those questions are answered will affect some of the world's richest countries -- the likes of France, Germany, and Italy. Usually ignored, it will also affect some of the poorest.
While remittances to Africa are helping to reduce poverty in individual households in sub-Saharan Africa, panelists from top financial institutions and the African Diasporan community agreed that channeling remittances flows through collective investment schemes and other innovative approaches are necessary to maximize its impact for sustainable development.
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