Word: banke
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...estimates portend grim consequences: some 53 million people may fall below the poverty line if the financial crisis continues and remittances dip, according to the World Bank. In the Philippines alone, up to five million people are sustained by money the country's expatriate workforce - one of the world's most disparate and omnipresent - sends home. Some 10% of Bangladesh's total GDP, and 16% of Nepal's, comes from the remittances of pools of unskilled laborers working in Malaysia and the Gulf states. The economic impact of remittances is even higher in Central Asia, where entire villages send their...
...Shiladitya Chatterjee, an economist at the Asian Development Bank in Manila, says governments need to thrash out a regional system to deal with migrant grievances and to help stranded, indebted workers. "Asia only recently woke up to the importance of this invisible export," says Chatterjee about foreign workers. "There must be better regional cooperation...
...George Mitchell in Jerusalem on April 16. That meeting will be a dress rehearsal for the Prime Minister's trip to Washington in May for talks with President Barack Obama and Secretary of State Hillary Clinton, who are pushing for the creation of a Palestinian state in the West Bank and Gaza as a key to a wider peace in the region. (See pictures of heartbreak in the Middle East...
...told TIME that after having failed to extract any concessions from former Israeli Premier Ehud Olmert, Abbas expects even less progress from Netanyahu on such key issues as a halt to the construction of illegal Jewish settlements and the removal of more than 550 army checkpoints in the West Bank, which are paralyzing the movement of Palestinians. These sources told TIME that Abbas - who not only confronts a new, hawkish Israeli government but also the loss of the Gaza Strip to Islamic militants Hamas - confided to aides that he may resign over his frustrations with Israel. "The only hope which...
...Netanyahu may viscerally oppose this plan. Even if he does not, selling it to his right-wing coalition partners may prove impossible. They refuse to divide Jerusalem and want to plow ahead with more Jewish settlements in the West Bank. As part of a coalition dealmaker, Netanyahu pledged to allow the construction of a new settlement of 3,500 dwellings outside Jerusalem that would surround the city's Arab neighborhoods. And his choice for Foreign Minister, Avigdor Lieberman, who has pronounced anti-Arab views and is under criminal investigation for allegedly taking bribes, has left the Americans and the Europeans...