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Listen to IMF economists and other experts discuss key economic and financial issues of the day. Click on the play button. Alternatively, download the audio MP3 file—a popular digital music format for sound files. Broadcasters: this facility is also being made available to enable these podcasts to be broadcast on radio outlets free of charge. Also available in SoundCloud


Remittances Can Act as Drag on Development

July 25, 2013

A money changer in Manila. Remittances are a major source of foreign currency for countries like the Philippines (photo: Ranoco /Corbis)

If you are one of the hundreds of thousands of people who send money abroad to friends and relatives, beware!  You may be doing as much harm as good, suggests one IMF economist.  Although these remittances can be a lifeline for families, they can also undermine economic growth. 


Ralph Chami, IMF, Middle East and Central Asia Department