Money Transfers: Are They Too Costly?
Global remittances exceed global aid budgets, but are money transfer costs too high?
Global remittances exceed global aid budgets, but are money transfer costs too high? Dilip Ratha, head of the migration and remittances programme at the World Bank, describes the costs as 'shameful' and making the process cheaper should be an urgent priority. We get a response from Western Union, one of the world's biggest money transfer companies as well as Africa's largest provider, Dahabshiil.
Plus, Tamasin Ford reports from Liberia, where remittances make up a third of the country's GDP.
(Photo: People walk past a remittance bank in Addis Ababa, Credit: Getty Images)