Specific strategies to help ‘plug’ the savings gap

• What are remittances?

  Funds sent by migrant workers home
• How do remittances help developing countries?

  They help close the savings gap
• What benefits do inflows of remittances provide?

  Boost domestic savings and foreign exchange
• How have remittances contributed to economic development?

  By providing a stable source of foreign exchange
• What has the Mexican government encouraged remittance recipients to do?

  Open bank accounts
• What is one effect of opening bank accounts for remittance recipients in Mexico?

  Improved financial inclusion
• How do bank accounts facilitate access to financial services?

  They allow investment in income-generating activities
• What role do remittances play in Bangladesh?

  Funding development projects
• How have remittances affected Bangladesh's dependency on foreign loans?

  Reduced dependency for infrastructure development
• What is the overall impact of remittances on developing countries?

  They enhance economic stability and growth