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Remittances Data Quality: A review in progress

Remittances Data Quality: A review in progress. Evis Rucaj, consultant, World Bank. Content. Remittances flows – Background Remittances within the BoP framework Data Discrepancies Key problems. Remittances flows. Remittance flows (1). Remittance flows (2).

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Remittances Data Quality: A review in progress

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  1. Remittances Data Quality: A review in progress Evis Rucaj, consultant, World Bank

  2. Content • Remittances flows – Background • Remittances within the BoP framework • Data Discrepancies • Key problems

  3. Remittances flows

  4. Remittance flows (1)

  5. Remittance flows (2) • Top remittances-receiver as % of GDP

  6. Remittances (3) Top remittances-sender countries

  7. Impact of Crisis on Remittances Source: Migration and Development Brief 8 for the methodology for the estimates for 2008 and forecasts for 2009 and 2010

  8. Remittances within the BoP framework Remittance flows are usually measured through BoP statistics Old definition: • Remittances are usually the sum of a few BoP items • workers remittance • compensation of employees • migrant transfers, • The migration status of a remitter is critical to measurement of remittance flows New definition: • Replace workers’ remittances with personal transfers • personal remittance • total remittance • total remittance and transfers to NPISHs • Remove “migrants transfers” and the concept of migrant from the BOP framework • Replace migration status with residence status

  9. Data Discrepancies • Global Discrepancies (inflows-outflows) • Bilateral Data Asymmetries • Discrepancies between IMF and WB remittances data

  10. Global Discrepancies Source: World Bank staff estimates and the International Monetary Fund's Balance of Payments Statistics Yearbook 2008.

  11. Key problems • Sender vs. Receiver countries • Metadata issues • Concepts and definition inconsistency • Compilation procedures • Threshold • Data sources • Estimation of informality

  12. Bilateral Asymmetries • A few or no bilateral data • No comparison framework • Different channels • Representation of the migration

  13. IMF vs. WB remittances data

  14. Key issues • Different methodologies • IMF: no filling in the missing of the data • 11% of the countries do not report remittances to the IMF • Many countries report data to the IMF with a time lag of at least two years • IMF yearbook lags one year

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