New Orleans Finally, the big-time money transfer organizations and the gazillions in predatory profits for moving money for migrant workers and immigrant families are at least hearing our footprints coming after them in the distance. Several months ago Ontario NDP Member of Parliament Jagmeet Singh introduced a bill we had collaborated in writing under the …
Tag: World Bank
Remittances and a New World Bank President
New Orleans The president of the World Bank, one of the premier world credit and developmental financing institutions created at Breton Woods, serves a 5 year, renewable term, and is currently occupied by former USA Trade Representative Robert Zoellick, appointed by George W. Bush. Traditionally the post has been held by a US citizen because …
Informal Hawala Remittance System Huge, Competitive, and Dangerous
New Orleans Yesterday on the ACORN International website (www.acorninternational.org), we released the third of our investigative, research reports in connection with our Remittance Justice Campaign. The bottom line is that the amounts of informal transfers are huge and underestimated. They are wildly cheaper by many orders of magnitude (0.25% to 1.25% compared to World Bank …