![]() ![]() ![]() This idea is starting to take root in Africa the Kenyan government is finalizing plans to start issuing diaspora bonds by June 2015. ![]() The interest on these bonds could fund schools, airports and other key institutions in their home country. And they would be sold in small values - from $100 to $10,000. In this deeply human talk, Ratha makes the case for diaspora bonds that would tap into the estimated $500 billion in annual savings held by international migrants around the globe.įunctioning like regular savings bonds, diaspora bonds would be sold by governments, private companies and public-private partnerships to migrants living abroad. Yet the promise of this money, known as remittances, is stifled by a big problem that no one seems to be worried about.Įconomist Dilip Ratha discusses the issue in today’s TED Talk ( The hidden force in global economics: sending money home). In 2013, international migrants sent $413 billion home to families and friends - a huge sum compared to the $135 billion sent in foreign aid the same year. ![]()
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