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María and José Know How to Spend Their Remittances

Nearly every time there is a news story about the billions of dollars flowing to poor countries as remittances, someone worries that not “enough” of that money is being saved and invested. A case in point is today’s piece in the Washington Post. Latin American workers in the US will send home $45 billion this year, but “only a small portion … has gone to economic development.”

Oil Nationalization? Why Chad is No Bolivia

Idriss Deby, President of ChadChad has expelled oil giants Chevron and Petronas from the country for allegedly failing to pay taxes. The press seems to be suggesting that the move is either another Bolivia-style nationalization or simply the government moving the American and Malaysian companies out of the way for another investor: