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

19 June 2024 English

Policy Brief AFRICA: THE CENTER OF THE GLOBAL SOUTH By Hung Tran PB - 32/24 The Global South features prominently in the context of geopolitical rivalry and efforts by developing …

countries the most—they now receive less FDI than remittances from Africans working abroad. Upheavals in commodities


IMF: International Monetary Fund · 13 June 2024 English

Reform efforts are bearing fruit with the economy starting to recover, inflation remaining low, revenue collection improving, and reserves continuing to accumulate. Performance under the program, the design of which …

2024, driven by improved tourist arrivals and remittances. Domestic risks could arise from waning reform exports, (ii) buoyant tourism and workers’ remittances, and (iii) moratorium on interest payment for INTERNATIONAL MONETARY FUND tourist arrivals and remittances. This is expected to be partially offset by


EPRS: European Parliamentary Research Service · 13 June 2024 English

On 10 April 2024, the European Parliament gave its consent to the conclusion of a new partnership agreement between the EU, its Member States and member states of the Organisation …

cooperation to reduce the transaction costs of remittances, the need to facilitate circular migration, mobility, encouraging diaspora investment and remittances, and supporting intra-African cooperation on


World Bank Group · 12 June 2024 English

crisis. Economic growth, driven by tourism, remittances, and foreign direct investment, has been robust


World Bank Group · 12 June 2024 English

The Global Compact on Refugees recognizes the importance of responsibility sharing for hosting, protecting, and assisting refugees, while emphasizing the potential of economic participation to reduce the cost of humanitarian …

the country's supply chain and the flows of remittances, as is currently the case in Eastern Chad, which The incidence of poverty 9 The receipt of remittances, while not a productive income generating activity were, it would imply that refugees who receive remittances but who otherwise consume the same amount as as refugees who do not receive remittances should receive more in aid. is higher, 83 percent, if pre-assistance


World Bank Group · 11 June 2024 English

limited sources: sovereign wealth, fishing fees, remittances, and aid flow. With limited domestic agricultural


World Bank Group · 11 June 2024 English

After several years of negative shocks, global growth is expected to hold steady in 2024 and then edge up in the next couple of years, in part aided by cautious …

plummeted in 2020. Many small states also rely on remittances for much of their external income, but these


World Bank Group · 11 June 2024 English

relevant regional bodies. Restoring payment systems is crucial for enabling transactions, receiving remittances, facilitating aid flow, and maintaining cross-border payments. Policymakers should use agile project

crucial for enabling transactions, receiving remittances, facilitating aid flow, and maintaining cross-border humanitarian aid, development assistance, and remittances, and maintain cross- border payments. However in many cases relying on commodity exports, remittances, and official development assistance as the difficulty it adds to receiving humanitarian aid and remittances. In that context, capacity building efforts official development assistance as well as migrant remittances, a traditionally important source of capital




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