A good friend sent this along from the ITAR-TASS news service:
And there still seems to be no research into the scale and impact of these money flows. I guess there are no votes in that kind of expense.
Moldova ranks world’s second by migrants’ money transfersI have already noted the issue of parts of this province's economy being kept afloat by remittances. The Stephenville area, and I suspect large parts of the Burin peninsula, would have families in true dire straits if it were not for the money sent home by their men working out west.
31.07.2007, 20.55
CHISINAU, July 31 (Itar-Tass) -- Moldovan labor migrants annually send $854 million to their families in the homeland, which makes up 27% of Moldova’s GDP, says a report entitled “Moldova – Migration Problems.”
Moldova ranks the world’s second after the African state of Togo by that parameter, the report runs.
The share of money transfers from abroad in the Moldovan GDP has grown from 8% to 27% over the past seven years.
In the opinion of experts of the International Monetary Fund (IMF), the amount of money transfers by labor migrants will continue to grow and reach $1.4 billion by 2008.
About 500,000 Moldovan citizens (nearly one-third of able-bodied people) have had to seek employment abroad. Fifty-seven percent of the labor migrants are working in Russia. The rest have found jobs in Italy, Portugal, Greece and other European countries.
And there still seems to be no research into the scale and impact of these money flows. I guess there are no votes in that kind of expense.
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