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'Super tax' on African remittances hurts development: thinktank

By Katie Nguyen LONDON, April 16 (Thomson Reuters Foundation) - Africans face the highest remittance fees globally, regularly paying a "super tax" to send money home at a cost that hurts families and holds back development in the world's poorest continent, a thinktank said on Wednesday. The London-based Overseas Development Institute (ODI) said reducing remittance charges to global average levels would generate $1.8 billion, enough to put 14 million children through primary school, or provide clean water to 21 million people.

Remittance 'super tax' costs Africa $1.8 billion a year

Africans are losing $1.8 billion (1.3 billion euros) a year due to high fees levied on funds sent from abroad by relatives, Britain's leading think tank on development said Wednesday. The Overseas Development Institute (ODI) found that Africans face some of the highest charges in the world for international transfers, but global leader Western Union insisted that the fees were down to a range of local factors.

Remittances to Mexico rise 7.15 pct. in first 2 months of 2014

Mexico City, Apr 1 (EFE).- Remittances sent to Mexico by emigrants totaled $3.26 billion in the first two months of 2014, up 71.5 percent compared to the same period in 2013, the Bank of Mexico said Tuesday. Mexico received $3.04 billion in remittances during the January-February 2013 period, the central bank said in its monthly report. The average remittance was $291.79 in the January-February period, up slightly from the $289.55 average registered in the same period last year, the central bank said.

Remittances to LatAm fell 1 pct in 2013

Washington, Feb 27 (EFE).- Remittances to the countries of Latin America and the Caribbean totaled $60 billion in 2013, a 1 percent decline compared with their level in 2012, according to an annual report released Thursday in Washington. Manuel Orozco, the main author of the report prepared by the Inter-American Dialogue, said that "a combination of factors among which are immigration controls and growing deportations" in the United States and the "slow" economic recovery were among the causes.

Mexico receives $21.59 bn in remittances in 2013

Mexico City, 4 feb (EFE).- Mexico received $21.59 billion in remittances from emigrants in 2013, a figure that was down 3.7 percent compared to 2012, the Bank of Mexico said. The 2013 figure did not surpass the $22.44 billion in remittances received in 2012 even though the flow had been trending higher since August. Nearly 74 million transactions were registered in 2013, with the average remittance totaling $292, the central bank said.

Mexico receives $21.59 bn in remittances in 2013

Mexico City, 4 feb (EFE).- Mexico received $21.59 billion in remittances from emigrants in 2013, a figure that was down 3.7 percent compared to 2012, the Bank of Mexico said. The 2013 figure did not surpass the $22.44 billion in remittances received in 2012 even though the flow had been trending higher since August. Nearly 74 million transactions were registered in 2013, with the average remittance totaling $292, the central bank said.

Remittances sent to Mexico fall 4.5 pct in first 11 months of 2013

Mexico City, Jan 2 (EFE).- Mexico received $19.8 billion in remittances from emigrants in the first 11 months of 2013, down 4.5 percent compared to the same period in 2012, the Bank of Mexico said Thursday. Mexico received $20.73 billion in remittances during the January-November 2012 period, the central bank said. Remittances totaled $1.693 billion in November 2013, up 0.05 percent from November 2012, when $1.692 billion in remittances flowed into the country.

Remittances to Mexico rise 4.6 pct in October

Mexico City, Dec 2 (EFE).- Mexico received $1.85 billion in remittances in October, up 4.6 percent compared to the same month in 2012, the Bank of Mexico said Monday. Mexicans living abroad sent $1.77 billion in remittances in October 2012, the central bank said in its monthly report. This was the third consecutive month that the figure was positive, with a 13-month negative trend ending in August. The average remittance was $285 in October, down from the $299 registered in October 2012, the central bank said.

SingPost launches remittance services to Myanmar

SingPost launches remittance services to Myanmar SINGAPORE, Nov. 27 (Xinhua) -- Singapore Post (SingPost) has launched remittance services to Myanmar, it said on Wednesday. The post services provider is partnering four commercial banks in Myanmar, such as Asia Green Development Bank, Cooperative Bank, Kanbawza Bank and Tun Foundation Bank. SingPost said it is one of the first postal service provider in the world to offer remittance services to Myanmar.

Philippines counts the cost of Typhoon Haiyan

Super Typhoon Haiyan's devastating assault on the central Philippines exerted a catastrophic human cost, but analysts say its impact on one of Asia's fastest growing economies will be less traumatic. The national economy has been on an upswing for the past five years and expanded 7.6 percent in the first half of 2013 -- a remarkable turnaround for a country once seen as an irredeemable non-achiever.
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