Serbia has become one of the largest remittance-recipient countries in the world. It is estimated that in 2004 Serbia received US$2.4 billion dollars in remittances from Serbian workers in Germany, the United States, Austria, Switzerland, Italy, and other countries. This amount represented 12 percent of Serbia's GDP. 'The Germany-Serbia Remittance Corridor' provides an overview of remittance flows from Germany to Serbia and analyzes why a large part of remittance transfers take place outside financial institutions. The study presents a series of recommendations on needed policy changes to facilitate the transfer of remittance flows from the informal channels to licensed or registered financial institutions, thereby maximizing the developmental impact of remittances, reducing remittances fees, improving data collection practices, and strengthening the regulation and supervision of the money transfer industry.
- ISBN10 1280454555
- ISBN13 9781280454554
- Publish Date 9 May 2014 (first published 30 May 2006)
- Publish Status Active
- Out of Print 12 November 2014
- Publish Country US
- Imprint World Bank Group
- Pages 70
- Language English