Get set for decades of migration: World Bank, IMF

Rich countries should prepare for levels of mass migration like those hitting Europe, but it could be the key to global economic growth, a report by the World Bank and International Monetary Fund says.

Inequality will continue to drive migrants toward developing states, the report explains, but these flows have the potential to reverse demographic imbalances, boost prosperity and ultimately end extreme poverty, according to Development Goals in an Era of Demographic Change, released in Peru at the start of the annual meetings of the World Bank and the IMF.

Also read: ‘Let Syrian refugees in and let them work’

While developed countries face shrinking and aging populations, low-income states aren't able to provide enough quality work for their own working-age citizens, who can be held back further by regional conflict and state fragility.

With about 74 percent of international migrants between the ages of 20 to 64 according to United Nations and official European statistics, freer cross-border migration can help stabilise economies across the globe, the World Bank and IMF report explained.

https://au.finance.yahoo.com/news/get-set-for-decades-of-migration--world-bank--imf-005907918.html

Get set for decades of migration: World Bank, IMF

Get set for decades of migration: World Bank, IMF

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