RPT-Countries look to draw expatriate cash with "diaspora bonds"

lunes 18 de abril de 2016 06:30 GYT

(Repeats with no change to text)

* More countries trying to tap their diasporas for investment

* seen as less likely to flee in a crisis

* Some attempts flop

By Karin Strohecker

LONDON, April 17 (Reuters) - A growing roster of developing states are turning to their compatriots abroad to raise cash by marketing "diaspora bonds", a funding strategy successfully pioneered by India and Israel but sometimes tricky to imitate.

Some 250 million people, around 3 percent of the world population, live outside their native countries, according to World Bank data from 2013. They are an important source of funding for their homelands: last year they sent home around $440 billion - three times more than global development aid.

Cash raised by governments directly by marketing securities to their overseas citizens represents just a tiny fraction of that, but looks set to grow, judging by a number of recent announcements.

Egypt has announced debt certificates denominated in dollars and euros to ease hard currency shortages.   Continuación...