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Payments in the Americas FEDERAL RESERVE BANK of ATLANTA October 7 – 8 Atlanta GA

Payments in the Americas FEDERAL RESERVE BANK of ATLANTA October 7 – 8 Atlanta GA. The Summit of the Americas Process and Remittances Organization of American States. Monterrey, México2004. Background. First Summit (Miami, December 1994) Summit on Sustainable Development

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Payments in the Americas FEDERAL RESERVE BANK of ATLANTA October 7 – 8 Atlanta GA

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  1. Payments in the AmericasFEDERAL RESERVE BANK of ATLANTAOctober 7 – 8 Atlanta GA The Summit of the Americas Process and Remittances Organization of American States

  2. Monterrey, México2004 Background First Summit (Miami, December 1994) Summit on Sustainable Development (Santa Cruz de la Sierra, December 1996) Second Summit (Santiago, April 1998) Third Summit (Quebec City, April 2001) Special Summit (Monterrey, January 12-13, 2004)

  3. Third Summit of the Americas–April 20 – 22, 2001 • Labor • Growth with Equity • Education • Health • Gender Equality • Indigenous Peoples • Cultural Diversity • Children and Youth • Summit Follow Up • Connectivity • Democracy • Human Rights • Justice • Hemispheric Security • Trade and Finance • Infrastructure • Disaster Management • Sustainable Development • Agriculture

  4. Third Summit – Quebec, 2001Migration - Remittances “Support initiatives designed to strengthen linkages among migrant communities abroad and their places of origin and promote cooperative mechanisms that simplify and speed up the transfer of migrant remittances and substantially reduce the costs of sending them”.

  5. Why a Special Summit? • Argentina - Nestor Carlos Kirchner (2003) • Bahamas - Perry Christie (2002) • Bolivia – Carlos Mesa Gisbert (2002) • Brazil - Luiz Inácio Lula da Silva (2003) • Canada – Paul Martin (2002) • Colombia - Álvaro Uribe Vélez (2002) • Costa Rica - Abel Pacheco de la Espriella (2002) • Ecuador - Lucio Edwin Gutiérrez Borbua (2003) • Guatemala – Óscar Berger • Honduras - Ricardo Maduro (2002) • Jamaica - Percival James Patterson (1992/2002) • Nicaragua – Enrique Bolaños (2002) • Paraguay - Nicanor Duarte Frutos (2003) • Trinidad and Tobago - Patrick Manning (PNM) 2003 14 new leaders

  6. Why a Special Summit? Source: Human Development Report 2004, Cultural Diversity in today's diverse world. United Nations Development Programme

  7. Why a Special Summit? Source: World Development Indicators 2003 Edition. The World Bank

  8. Special Summit of the Americas Issues • Economic Growth with Equity to Reduce Poverty • Social Development • Democratic Governance

  9. Social Development • Empowerment of women • OAS Mechanisms to combat poverty • Strengthen the social security systems • Cultural Diversity, Indigenous People • Strengthen the social security systems • Full protection of human rights of all migrants • Decent work, take measures to fight the worst forms of child labor. • Promote access to quality basic education for all • Fight against trafficking in persons • Scientific and technological research and development • Combat the HIV/AIDS pandemic • Impact of natural Disasters and environmental health

  10. Economic Growth with Equity to Reduce Poverty • Simplify the procedures and reduce the time and cost of establishing businesses • strengthen property rights • Develop micro, small and medium enterprises - access to credit • Resolution of financial crises; reform the international financial architecture; reduce the burden of debt service, HIPC • FTAA Calendar • Remittances – reduce the average cost by at least half (2008) • Monterrey consensus

  11. Declaration of Nuevo León Economic Growth with Equity to Reduce Poverty “We recognize that remittances are an important source of capital in many countries of the Hemisphere. We commit to take concrete actions to promote the establishment, as soon as possible, of necessary conditions, in order to achieve the goal of reducing by at least half the regional average cost of these transfers no later than 2008”.

  12. "in the case of Honduras, it is worth mentioning that the principal source of income in Honduras today is not the big exporting activity, nor the assembly plant, nor the traditional crops like coffee and banana, nor is it even tourism. It is the remittances of poor Hondurans in the United States, who with exemplary solidarity, give back to other poor Hondurans, as a very effective social distribution mechanism".Remarks by the President of Honduras, Ricardo Maduro, during the Second Plenary Session of the Special Summit of the Americas

  13. Cost to Send $200 form the U.S. to Home Countries (June 2004) Source: Remittances to Latin America and the Caribbean: Issues and perspectives on development, Orozco Manuel

  14. In the OAS Context: • Working Group for the Inter-American Program for the Promotion and Protection of the Human Rights of Migrants - September 30th and October 1st 2004, • - Importance of remittances flows for recipient countries. • Transnational networks to enhance the remittances as a tool for development. • Programs for investment and saving within the recipients communities • - Ways to accomplish the goal of reducing the cost of sending remittances. • Summit Implementation • - How to effectively measure the costs of transfers and show trends in these costs, • - What the public sector can do to increase the development impact of remittance funds

  15. International Organization for Migration –New Member of the JSGW • IOM is committed to the principle that humane and orderly migration benefits migrants and society. • Leading international organization for migration, IOM acts with its partners in the international community to: • Encourage social and economic development through migration • Uphold the human dignity and well-being of migrants. • Assist in meeting the growing operational challenges of migration management. Counter-Trafficking Labor Migration Migration Health Services Assisted Voluntary Returns Technical Cooperation on Migration Migration Research Migrant Movement Processing and Assistance

  16. Fourth Summit of the AmericasArgentina 2005 • First week of November 2005 • Theme: “Creating Employment to Confront Poverty and Strengthen Democratic Governance ”. • Progress report on meeting the goal of reducing the cost of remittances Civil Society Participation:Regional Forums - Present recommendations to be considered by the Officials

  17. Engaging in the Summit Process • Dialogue with National Coordinators • United States of AmericaAmbassadorJohn MaistoNational Summit CoordinatorTel: (202) 647-3141Fax: (202) 736-7618 • Next meeting of the Summit Implementation Review Group Oct. 19-20, 2004. Washington D.C. • Participation in Civil Society and Government Preparatory meetings

  18. Office for the Summit Processwww.summitsoftheamericas.org Organization of American States 1889 F Street NWWashington, DC 20006 USATel:202.458.3127, Fax: 202.458.3665summit-info@oas.org

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