As Rodrick (2008) argued for developing countries, episodes of undervaluation of local currency are strongly associated with higher economic growth of the country, and vice versa. Thus, enhanced remittance flows, whilst stimulating growth and domestic demand, could also contribute to reduced external competitiveness through appreciation of the local currency. Whilst brain drain remains a concern, particularly for African LDCs, because of underlying economic causes, migration from the LDCs is likely to be difficult to stop.