Perhaps more telling is the fact that the money they send back home surpasses the amount of money the countries receive in direct foreign investment and officialdevelopmentaid.
According to this so-called "Monterrey Consensus, " the United States and other developed nations are obliged to provide 0.7 percent of their gross national income in foreign aid (also known as OfficialDevelopment Assistance or ODA).
They contend that, pursuant to agreed Millennium Development Goals contained in the Report of the International Conference on Financing for Development (dubbed the "the Monterrey Consensus"), the United States and other developed nations are obliged to provide 0.7 percent of their gross national income in foreign aid (also known as OfficialDevelopment Assistance or ODA).