Gästarbetare och migranter skickar enorma summor hem – "ländernas livlina"

Gästarbetare och migranter skickar enorma summor hem – "ländernas livlina"

Remitteringar är pengar som gästarbetare och migranter skickar hem till sina familjer. Sedan 2010 har de nästan fördubblats och nådde förra året rekordbeloppet 647 miljarder dollar, vilket överstiger de utländska direktinvesteringarna i dessa länder, skriver The Wall Street Journal. I Mexiko genererar remitteringarna större dollarinkomster än vad den internationella turismen och oljeexporten inbringar. I Nicaragua står de för en tredjedel av BNP. Listan kan göras lång. Ekonomer menar att för stora remitteringar hämmar utvecklingen och och ger ett ofrivilligt stöd till auktoritära regimer: När människor slipper gå hungriga håller det tillbaka trycket för förändring. Remittances to the developing world hit record $647 billion, aiding the poor but helping keep strongmen from Nicaragua to Tajikistan in power. By Ryan Dubé The Wall Street Journal, 6 August 2023 LIMA, Peru. More people than ever are migrating worldwide, with millions of people sending home record amounts of cash that fund small businesses in Uganda and feed families from Ecuador to Nepal. But the remittances also provide critical support to fragile states and autocratic regimes which rely on money earned by their citizens abroad to keep their economies afloat. In Venezuela, a third of households depend on money transferred home from the more than 7.3 million migrants who fled the country’s economic collapse, according to the Inter-American Dialogue policy group in Washington. In Central Asia, where many former Soviet officials rule, migrants send so much money that the funds cover their nations’ trade deficits, economists say. In Nicaragua, remittances have become so vital to the tax revenue of President Daniel Ortega’s regime that some economists say reducing the flow of the funds would be a form of political resistance. “If you didn’t have remittances, the national economy would collapse,” said Enrique Sáenz, an exiled Nicaraguan economist. “And in macroeconomic terms, Ortega would be in deep trouble.” The growing flow of money creates a challenge for reformers seeking to exert economic pressure on autocratic leaders. But limiting remittances would hurt the vulnerable families of migrants who remain back home and reliant on money transfers. “Remittances are one of the most difficult issues we can deal with,” said Ryan Berg, a political scientist at the Center for Strategic and International Studies in Washington. “Nobody really wants to touch that issue because who would ever, from a policy standpoint, try to interfere with remittances as a point of pressuring dictatorships when we all know people are suffering.” Since 2010, remittances to the developing world have nearly doubled, rising to a record $647 billion last year, more than foreign direct investments to those countries and more than international development aid, according to the World Bank. In Nepal, a young and fragile democracy where remittances account for close to a quarter of GDP, inflows from migrant workers have helped keep a lid on bubbling anger at the government over its handling of the pandemic and a recent recession, said Jeevan Baniya, an expert on migration at the Kathmandu-based research institute Social Science Baha. “Had it not been for the inflow of remittances, we would have likely experienced some kind of social or political upheaval,” Baniya said. “Remittances end up reinforcing the existing power structure.” In Egypt, money sent by migrants provides three times more revenue than the government takes in from the state-owned Suez Canal, while remittances to Mexico surpassed the dollars generated by international tourism and oil exports. “Remittances have become a financial lifeline for developing countries,” said Dilip Ratha, a World Bank economist and remittances expert. The millions of money transfers a year, each one often just a few hundred dollars at a time, are being spurred by soaring migration to the U.S. and Europe since the Covid-19 pandemic. Migrants are arriving in affluent countries that have labor shortages, allowing them to find higher-paying jobs and send more money home. Some economists say that if remittances become too big, they can hurt longer-term development and create governance problems. Connel Fullenkamp, a Duke University economist, said remittances can start to become problematic once they go above 5% to 10% of a nation’s gross domestic product. The money can reduce incentives to work for those who receive the funds, he said. They can also curb demands on the government to fix domestic problems that cause migration in the first place. “If you get remittances, it causes you to care less about what is really going on in your own backyard, because you can always tap your relatives overseas for more transfers,” said Fullenkamp, who has written studies on remittances for the International Monetary Fund. “Politicians are well aware.” Some of the world’s most remittance-dependent nations are ruled by autocratic regimes where people have few economic opportunities—save for leaving. “These countries have stronger currencies than they would otherwise have, and they have less inflation than what they would otherwise have,” said Roman Mogilevskii, an economist at the Philippines-based Asian Development Bank. In the Central Asian nation of Tajikistan, money from migrants mainly working in Russia make up close to half of the country’s GDP, according to the World Bank. Remittances there have helped authoritarian President Emomali Rahmon maintain his three-decades-old grip on power, according to scholars on the country. Navruz Nekbakhtshoev, a political scientist from Tajikistan who lives in Nebraska, said the remittances calm grievances and demands on officials by feeding families back home. The mass outflow of young people to fund the cash flow also removes people who might otherwise challenge the political status quo. “It works to stabilize the regime,” he said. “As long as this exit path exists for the people, the autocratic regime can basically stay in power.” With Russia’s economy struggling because of the war in Ukraine and Western sanctions, migrants could have fewer job opportunities, affecting remittances, economists say. That is prompting Tajikistan and other Central Asian governments to try to reduce their dependence on Russia by promoting migrant paths to other places such as Turkey and England, said Zachary Witlin, an expert on the region at the Eurasia Group. In fragile, democratic countries, a large drop in remittances can contribute to unrest. In Sri Lanka, where more money arrives from the diaspora than what is earned from tea exports, remittances fell by nearly half from 2020 to 2022. That contributed to a balance-of-payment crisis that drained the country’s foreign-exchange reserves and left it unable to pay for imports or service its external debt. Amid mass unrest, the president fled the country last year. Elsewhere, a decline in remittances could just push more people to leave as rulers repress dissent. Cuba first allowed remittances after the unraveling in the 1990s of its benefactor, the Soviet Union, brought about a sharp economic contraction. The Western Hemisphere’s lone Communist country realized that allowing some people to leave could serve as an important source of hard currency, historians say. “Remittances can in some ways grease the wheel of a system that doesn’t work,” said Ted Henken, author of books on Cuba and a professor at New York’s Baruch College. “A Cuban in Miami or Madrid might be worth more to the Cuban government just in terms of GDP.” Then from 2019 to 2021, remittances to Cuba fell more than 70% as a result of the pandemic and tougher U.S. sanctions designed partly to block the Cuban military from profiting from the transfers. The Cuban military was taking a cut of the “well-intentioned, generous funds” that Cuban-Americans sent back to their families, then-Secretary of State Mike Pompeo said in 2020. With tourism to Cuba also drying up, people took to the streets to demand an end to a regime in power since 1959. Today, remittances remain far below prepandemic levels and Cuban immigrant families in the U.S. increasingly bankroll the departure of their relatives from the island, said Emilio Morales, president of the Havana Consulting Group, a Miami-based firm that tracks Cuba’s economy. “The situation is so chaotic that people prefer to invest in getting their family out of Cuba,” he said. In Venezuela, an economy that has contracted 75% over the past decade, remittances are crucial for the people who have stayed in the country under the autocratic and bankrupt government of President Nicolás Maduro, said Angel Alvarado, a Venezuelan economist at the University of Pennsylvania. “You can ask, ‘How are people not dying of hunger in Venezuela?’” Alvarado said. “The answer is that they have at least one child living abroad, sending money for food and medicine.” In Nicaragua, remittances more than doubled from 2018 to 2022 after President Ortega violently put down protests. This year, they are expected to account for about 33% of the country’s GDP, one of the highest rates in Latin America, said Manuel Orozco, a Nicaraguan economist at the Inter-American Dialogue. Marta Ortega, 45, a Nicaraguan who found work cooking in homes in Costa Rica, said she never considered her transfers could support a regime she opposes. She just wanted to help her mother. “It wasn’t a lot,” said Ortega. “But it was really important.” —Nicholas Bariyo in Kampala, Uganda, Samantha Pearson in São Paulo, and Jenny Carolina González in Bogotá, Colombia, contributed to this article.

Rysslands grannar rustar – med minfält, diken och befästa broar

Rysslands grannar rustar – med minfält, diken och befästa broar

Putin är tydlig: Ryssland är i krig med väst. Invasionen av Ukraina och skarpa ord om forna Sovjet har lett till en militär upprustning i grannländerna som saknar motstycke i modern tid. Enklaven Kaliningrad, där ryska Östersjöflottan har sin bas, ses som Rysslands utpost mot väst – och grannländerna förstärker nu gränserna bäst de kan. Litauen har befäst ytterligare en bro över floden Nemunas på rutten mot den ryska enklaven, skriver landets försvarsdepartement på X på onsdagen – och det är bara den senaste i raden. En enorm försvarsanläggning Sedan juli har flera broar förstärks med pansarvärnshinder, diken har grävts, barriärer byggts och minfält har lagts vid gränsen till Kaliningrad, som bara finns i rysk ägo för ett ändamål. – Det är en försvarsanläggning. Det är allting ifrån kärnvapenbunkrar till markförband. Och det måste finnas ordentliga förberedelser för att ta hand om Kaliningrad militärt och för att se till att Ryssland inte kan göra något därifrån i händelse av ett krig, säger Joakim Paasikivi, militärexpert. Paasikivi förklarar att Litauen, och övriga Baltländer, nu går från en strategi med så kallade ”snubbeltrådsförband” till att skapa en reell militär förmåga att försvara länderna direkt vid gränsen. Polen bygger ”Eastern shield” Samtidigt rustar Polen – som också gränsar mot enklaven – i ännu större utsträckning än Litauen. I slutet av 2024 påbörjas bygget av försvarslinjen ”Eastern shield” och totalt ska Polen lägga 4,2 procent av sitt BNP på försvaret. Enligt Paasikivi handlar det om ”klassiska försvarslinjer”. – Det är av den typ man hade under den kallaste delen av kalla kriget med olika typer av hinder och varningssystem. Det här blir inte bara ett militärt försvar, utan också en möjlighet att hantera allt från cyberangrepp till en militariserat flyktingvåg, sabotage och i värsta fall militära angrepp. Det är en glidande skala, säger han. – Polen tar det här på störst allvar av alla. De köper i princip allt som är möjligt att köpa, från USA och Sydkorea främst. Det är stora satsningar på den polska försvaret. De har ingen lust att förlora igen. Realistiska ryska hot I östra Europa är det tydligt att ett krig pågår – och hotet från Ryssland är ständigt närvarande. Joakim Paasikivi vill inte kalla det man känner för ”skräck”, utan för ”realism”. – Det är en hög grad realism när man har en kärnvapenmakt som granne, som har anfallit en annan granne, och som dessutom i tv-propaganda nästan dagligen talar om att man måste slå de lömska polackerna och att balterna inte ska tro att de finns, säger han och fortsätter: – Det är ett reellt hot men just nu är förmågan på den ryska sidan inte tillräcklig för att göra någonting av det här hotet. Den militära upprustningen sker från en extremt låg nivå. Ambitionerna är stora – att Europa ska ta hand om sitt eget försvar och inte förlita sig på USA – och det kan också innebära ett problem, förklarar militärexperten. – Det har stora säkerhetspolitiska konsekvenser om man misslyckas. Kanske får vi betala dem i blod men också att det försämrar förhållandet till USA om vi sjabblar bort det här, säger Joakim Paasikivi.

Ett låneskydd kan öka tryggheten för bostadsköpare

Ett låneskydd kan öka tryggheten för bostadsköpare

Fallande räntor innebär högre aktivitet på bostadsmarknaden och fler personer som tar nya bolån. Samtidigt uppger mer än en tredje del av svenskarna (37 %) att de inte känner till att det finns försäkringsprodukter som erbjuder ekonomiskt skydd när man tar ett lån, visar den nya BNP Paribas Cardif-undersökningen ”Protect & Project Onself” gjord tillsammans med IPSOS.* Därför lanserar BNP Paribas Cardif en digital kampanj för att öka kännedomen om de försäkringsprodukter som redan finns på den nordiska marknaden.

BNP på YouTube

Så fungerar BNP

BNP står för bruttonationalprodukt och är det samlade värdet av ett lands alla varor och tjänster under ett år. Måttet visar storleken ...

EFN Ekonomikanalen på YouTube

Stark svensk ekonomi - Förstå hur BNP fungerar

2018 blev ett år med stigande BNP på 2,4%. Frågan är om det kan fortsätta under 2019. I detta inlägg kollar jag närmare på vilka ...

Nordnet Sverige på YouTube

EFN förklarar: BNP

Har du undrat vad BNP är? EFN reder ut. --- EFN står för Ekonomi- och FinansNyheterna. Vi förser dig med de viktigaste ...

EFN Ekonomikanalen på YouTube

3. Att mäta BNP [Grundkurs i nationalekonomi: Makro]

E-bok i nationalekonomi: https://pucko.netlify.app/ E-bok i ekonometri: https://ekonometri.netlify.app/ Gammalt kurskompendium: ...

Nationalekonomi vid Åbo Akademi på YouTube

[Live] BNP Count 2024 - Nominell BNP

Realtidsräknare för "Nominell BNP" & "Nominell BNP per capita" i US-dollar. Beräknat baserat på World Economic Outlook ...

Utonish på YouTube

Vad är BNP? | CNBC förklarar

Det är kungen av ekonomisk statistik. Bruttonationalprodukten är ett viktigt verktyg för att mäta hälsan och styrkan hos ett lands ...

CNBC International på YouTube

Bruttonationalprodukt (BNP)

Hur mäter vi hälsan i en ekonomi? Det vanligaste sättet är att titta på dess bruttonationalprodukt, eller BNP.

Professor Dave Explains på YouTube

BNP i poddar

Lesson: Learn to Focus in 2024 (plus, how BNPL companies are killing you)

So many distractions. You can't even read this title without thinking about your social media accounts, can you? That's okay. Neither can we. So, to help ourselves AND our Stacker community, we invited Eric Qualman to join us. He embarked on the Focus Project where he just tried focusing on ONE THING for two hours a day. How'd it work out? We'll share all, including his tips on New Year resolutions and how to block time for the important things on today's show. Plus (and before we discuss focus), we'll dive even more into the topic as we talk about Klarna and Affirm, plus companies who've done the same thing over the last thirty years. Should our Stacker not go with the BNPL company? We'll discuss winning strategies. FULL SHOW NOTES: https://www.stackingbenjamins.com/increase-your-focus-in-2024-erik-qualman-1458 Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Outlook 2024: Why we stay positive on Stocks and Corporate Credit

In this podcast, Edmund Shing, Global Chief Investment Officer of BNP Paribas Wealth Management gives his outlook for 2024.  ·         How far can inflation fall?·         Lock in attractive bond and credit yields·         Identify attractive regional stock markets·         Are illiquid assets a good card to play?

Perspectives 2024 : pourquoi nous restons positifs sur les actions et les crédits aux entreprises ?

Dans ce podcast, Guy Ertz, Chief Investment Advisor de BNP Paribas Wealth Management donne ses perspectives pour 2024.• Jusqu'où l'inflation peut-elle baisser ?• Bénéficiez de rendements obligataires et de crédit attractifs• Identifier les zones géorgaphiques attractives.• Les actifs illiquides sont-ils une bonne carte à jouer ?

Thematic Investments and Environmental Strategies with BNP Paribas

Thematic Investments and Environmental Strategies with BNP Paribas by ESGpresso

S2E03: Biodiversity Research with BNP Paribas' Sumati Semavoine-Jain

Nature is increasingly factored in investment decisions. An emerging realm in relation to natural resources is biodiversity. To wrap up Autumn Term, LSESU Green Finance “The GreenHouse” is back with our final podcast episode for the term. In this episode, we invited Sumati Semavoine-Jain, who works in sustainability research at BNP Paribas. As an analyst for biodiversity and freshwater in Markets360, join us in this episode to explore investment trends and current issues in the biodiversity space! Follow us on Instagram @lsesugreenfinance for updates on our podcast and view the transcript of the episode here: https://www.lsesugreenfinance.com/podcast! For further enquiries, please contact us at greenfinance@lsesu.org

buying a laptop with BNPL, interest-free or salary sacrifice

Glen and John discuss a question from Taizya about buying a laptop and give their thoughts on BNPL, interest-free purchases and credit card balance transfers.We hate email spam so we don’t create it! Sign up to our newsletter to get only the valuable money, careers and property info you need.To get help, and to check out our online courses, resources and downloads (+ our disclaimers and warnings), click here. Hosted on Acast. See acast.com/privacy for more information.

The Banking & Payments Show: BNPL—A look ahead in 2024 | Jan 9, 2024

On the first podcast episode of the new year, we discuss what buy now, pay later's (BNPL’s) prospects will look like in 2024.     • In our “Story by Numbers” segment, we focus on the outlook for BNPL by looking at growth by generation.     • In “Headlines,” we examine data from Adobe Analytics that states BNPL purchases were up 43% on Cyber Monday compared with the previous year, and how the rise of BNPL use over the holidays has increased consumers' debt burden.     • In “For Argument’s Sake,” we debate whether BNPL promotes good or bad behavior. Listen to the podcast with host Rob Rubin and our analysts Grace Broadbent and David Morris.     Follow us on Instagram at:  https://www.instagram.com/insiderintelligence/   For sponsorship opportunities contact us: advertising@insiderintelligence.com For more information visit: https://www.insiderintelligence.com/contact/advertise/ Have questions or just want to say hi? Drop us a line at podcast@emarketer.com    For a transcript of this episode click here:  https://www.insiderintelligence.com/content/podcast-banking-payments-show-bnpl-a-look-ahead-2024   © 2023 Insider Intelligence 

Fast Five | Walmart’s Big & Bold BNPL Push, Macy’s Buyout & CNBC’s Pointed Criticism Of Target

In this week’s Omni Talk Fast Five retail news roundup, sponsored by the A&M Consumer and Retail Group, Firework, Avalara, TGW, and Sezzle, Chris and Anne discussed:Walmart’s bold and beautiful move to put BNPL via Affirm at self-checkoutAmazon’s confounding decision to test an additional $9.99 per month fee on top of Amazon Prime for grocery deliveryWhy Macy’s shareholders should take a hard look at their buyout offer on the tableGoogle’s second brilliant move over the last two months in search commerceAnd closed with a look at why CNBC may have gotten it right on the money when it questioned Target’s claims about theftThere’s all that, plus tastes we would rather eat than drink, DNA data storage, and an allusion to Vera Farmiga in The Departed saying why “honesty is not always synonymous with truth.”Music by hooksounds.com

Fast Five Shorts | Walmart Expands BNPL With Affirm At Self Checkout

In the latest edition of Omni Talk’s Retail Fast Five, sponsored by the A&M Consumer and Retail Group, Firework, Avalara, TGW, and Sezzle Chris Walton and Anne Mezzenga discuss: Walmart Expanding BNPL With Affirm At Self CheckoutFor the full episode head here: https://youtu.be/gvA1lq3ngrA

Divergence or Convergence: What Is the Short Term Future of the BNPL Industry?

In this episode, Adam, Ryan, Nigel and Alex look at how Buy Now Pay Later (BNPL) has evolved, where it is in the present day and where it is heading. -What percentage of transactions currently use BNPL? -When will the rate of growth for BNPL slow? -How do retailers and providers evolve to meet consumer needs? -How will regulators impact this new financial phenomenon?Timestamps below:- Divergence & convergence? The Bain answer first! (2:36) - Macroeconomic pressures (5:32) - The background of BNPL (6:16) - Credit modules (8:36) - What has led to the rise of BNPL? (10:20)- Effects of consumer experience on change (10:36) - Data analytics team overview (16:02) - Incorporating human psychology into algorithms (19:58) - Merchant benefits (23:06) & (24:07) - BNPLs are becoming platforms (23:47) - Where does BNPL fit in with retailer's payment strategies (27:00) - Where does your biggest cost space sit (29:26) - Generational shifts & future projections for growth (32:22) - Who should be getting into BNPL? (33:53)- Regulators (42:33) Please subscribe to the show so you never miss an episode, and leave us a review if you enjoyed the first-ever episode of Deciphered. - You can find Adam Davis here- You can find Ryan Garner here- You can find Nigel Verdon here- You can find Alex Lang here