{
  "title": "No Easy Solution: A Smorgasbord of Factors Drive Remittance Costs",
  "publication": "IMF Working Papers, July 30, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130",
  "overlayPath": "/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130/index.md",
  "summary": "There has been a global push to decrease the cost of remittances since at least 2009, which has culminated with its inclusion in the Sustainable Development Goals in 2015.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Author: Tito Nícias Teixeira da Silva Filho\n- Publication date: July 30, 2021\n- Series: Working Paper No. 2021/199\n- Core summary:\n  - There has been a global push to decrease the cost of remittances since at least 2009, culminating with its inclusion in the Sustainable Development Goals in 2015.\n  - Despite new business models and policy efforts, remittance costs have been decreasing very slowly, contrary to predictions of sharp declines.\n  - Remitting to poorer countries remains very expensive.\n  - Academic interest on the drivers of remittance costs has been limited.\n  - The paper finds a complex, heterogeneous, and unequal remittances ecosystem where costs are driven by a myriad of factors and where there are no easy and quick solutions.\n  - Policymakers have limited room to act but still play a very important role."
    },
    {
      "heading": "Findings and analysis",
      "content": "- Ecosystem characterization:\n  - The remittances ecosystem is described as very complex, heterogenous, and unequal.\n  - Costs are driven by a myriad of factors; no single or obvious quick fix explains the persistence of high costs.\n- Trend observations:\n  - Remittance costs have been decreasing very slowly despite sustained global efforts since 2009 and inclusion in the Sustainable Development Goals in 2015.\n  - Remitting to poorer countries remains particularly costly.\n- Research gap:\n  - The paper notes a surprising lack of academic interest focused on the drivers of remittance costs."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Policymaker role:\n  - While policymakers face limited scope for action given the multiplicity of drivers, they still have an important role to play in addressing remittance costs.\n- Implicit guidance:\n  - Because the environment is heterogeneous and drivers are multiple, policy responses should be tailored and multifaceted rather than relying on a single solution.\n  - Expectation management: quick and easy policy fixes are unlikely to deliver large, rapid reductions in remittance costs.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130/bundle-manifest.json)",
    "Authors: Tito Nícias Teixeira da Silva Filho",
    "Published: July 30, 2021",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513592954.001",
    "Author: Tito Nícias Teixeira da Silva Filho",
    "Publication date: July 30, 2021",
    "Series: Working Paper No. 2021/199",
    "Core summary:",
    "Ecosystem characterization:",
    "Trend observations:",
    "Research gap:",
    "Policymaker role:",
    "Implicit guidance:",
    "**Working Paper**"
  ],
  "related": [
    {
      "title": "Working Paper",
      "role": "paper",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/wp/2021/english/wpiea2021199-print-pdf.pdf",
      "summary": {
        "path": "/-/media/files/publications/wp/2021/english/wpiea2021199-print-pdf.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/wp/2021/english/wpiea2021199-print-pdf.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130/index.md",
    "json": "/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130/index.json",
    "bundleManifest": "/en/publications/wp/issues/2021/07/30/no-easy-solution-a-smorgasbord-of-factors-drive-remittance-costs-462130/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-16T19:58:02.313Z"
}