Remittances

A remittance is a transfer of money, often by a foreign worker to an individual in their home country. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labor-exporting countries.According to the World Bank, in 2018 overall global remittance grew 10% to US$689 billion, including US$528 billion to developing countries. Overall global remittance is expected to grow 3.7% to US$715 billion in 2019, including US$549 billion to developing nations.Due to its large diaspora and overseas expats …

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Publications

World Bank Group · 7 November 2024 English

Moldova’s climate and development challenges are inextricably linked. Weak and volatile growth, highlevels of poverty, near total energy import dependence, and a strong reliance on drought-prone agricultureare all symptoms of …

domestic economy that is heavily reliant on remittances. This growth model has failed to nurture structural to 2050. However, the country’s reliance on remittances as a growth driver, amidst persistent structural with a large diaspora and heavily reliant on remittances. And although these have declined as a share


World Bank Group · 7 November 2024 English

Croatia is a high-income country with solid macroeconomic fundamentals, which has contributed to the country’s accelerated income convergence with the rest of the EU in recent years. The sustained inflow …

rising employment and large inflows of workers’ remittances that will foster personal consumption growth doing business. On the other hand, workers remittances have been on the rise, reaching 2.5 percent of strong labor market and large inflows of workers’ remittances, fostered personal consumption growth. Such


World Bank Group · 7 November 2024 English

This Country Climate and Development Report (CCDR) explores Armenia’s intertwined climate and development challenges, presenting a comprehensive roadmap toward a cleaner environment, healthier communities, and a resilient economy. It highlights …

rapid influx of foreign direct investment and remittances, and exports benefiting from the commodity price


World Bank Group · 7 November 2024 English

The Yemen Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Yemen. The …

factors have also negatively influenced remittances. The IOM’s 2023 report on “Migration, Environment controlled by the Houthis have resulted in decreased remittances and reduced household net gains. Furthermore liabilities, as they are the main beneficiaries of remittances and because they actively hedge against fluctuations Houthis, adversely impacting aid flows and remittances. Yemenis have already been struggling to get disrupting humanitarian aid, essential imports, remittances, and key sources of livelihood. Such developments


World Bank Group · 6 November 2024 English

Years of conflict have deepened the Yemeni economy’s longstanding reliance on cash. The country’s underdeveloped formal banking and financial infrastructure hinders credit intermediation, and most economic activity is conducted on …

Exchangers, 2023 77 Figure 44 Value of Unclaimed Remittances 80 Figure 45 Assets of Money Exchangers 82 Revenue Composition 89 Figure 58 Revenues from Remittances 89 Figure 59 Revenues from Currency Trading Revenues Composition 90 Figure 61 Revenues from Remittances & Profitability 918 Figure 62 Net Profit Margin facilitate trade and allowed households to receive remittances and shore up their consumption. Moreover, when banking sector as a tool to support aid flows, remittances, and food and fuel imports, under the auspices


World Bank Group · 6 November 2024

and poverty reduction over the past two decades, Tajikistan's reliance on natural resources and remittances has led to unsustainable development, depleting natural capital and limiting job creation. The


World Bank Group · 6 November 2024 Russian

and poverty reduction over the past two decades, Tajikistan's reliance on natural resources and remittances has led to unsustainable development, depleting natural capital and limiting job creation. The


World Bank Group · 6 November 2024 English

into a surplus, driven by sharp increase in remittances. In May 2024, Bangladesh Bank adopted a crawling


World Bank Group · 6 November 2024 English

and poverty reduction over the past two decades, Tajikistan's reliance on natural resources and remittances has led to unsustainable development, depleting natural capital and limiting job creation. The

sustained by household consumption driven by remittances vulnerable to external shocks and by agriculture industries dependent on natural resources; and remittances, which constitute one-third of GDP and expose


World Bank Group · 6 November 2024 English

and poverty reduction over the past two decades, Tajikistan's reliance on natural resources and remittances has led to unsustainable development, depleting natural capital and limiting job creation. The


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