Question

My country is France.

FROM WHERE is the remittance money that COMES INTO YOUR ASSIGNED COUNTRY being sent? How significant is this source of money in terms of AMOUNTS and the IMPACT that it has on communities in your assigned country (what percentage of your country’s GDP)? What is the remittance money being used for in your assigned country? What are the positive and/or negative ramifications to the remittances coming into your assigned country? Are there any ramifications for the country from which the remittances are being sent?

Answer 1

Remittance money coming into France is been sent from India. The amount is nearly 1 percent in total as percentage of GDP and has seen wider positive impact on communities in France as this money is used for philanthropic activities and for NGO based spending to fund United Nations Sustainability development goal albeit a small portion.

Positive ramifications are it enhnces national incomes, boosts consumption and spending in France, helps generate savings and investment. However negative ramifications are that it reduces labor supply due to brain drain, leads to poor economic growth, creates lack of supply kf quality talent.

The remittance sent from India leads to devaluation if their currencies and also leads to lower consumption in foreign markets as negative ramifications.

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