We therefore need to collectively consider and design the best approach that will measure remittances in the most accurate and timely manner, going forward. This will not necessarily be an easy task. Even at the international level, the conventional wisdom is that there is no unique “best” source of data, or collection approach, due to the complexity of the phenomenon.
Therefore, from a purely technical standpoint, a reasonable strategy would be to appropriately combine different sources and methods, e.g., bank reports data, household surveys, other administrative-based data, even econometric and demographic models, that will allow for integration, cross-checks and reciprocal confirmations.