SERD Policy Talk (SPOT) Series: SPOT on the Prospects and Building Resilience of Remittances in Asia
In the 9th SPOT series, Aiko Kikkawa, Guntur Sugiyarto, and James Villafuerte from the ADB; and Jonathan Capal of Developing Markets Associates discussed the issues and prospects of labor mobility and remittances in Asia. The discussion noted the critical role of remittances as a lifeline for people in the region. It also raised the need for improved coordination between sending and receiving economies to: 1) improve migration and remittance policies; 2) enhance the efficiency and transparency of migration and remittance facilitation systems; and 3) train workers to adopt technology to cut remittance costs and enhance their job prospects abroad and in the domestic economy. More so, international organizations such as the ADB can help bring sending and receiving economies to build a consensus regarding minimum standards to protect migrants’ rights and support their health, safety, and families.
Dulce Zara of SERC moderated the discussion.