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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ODI: Overseas Development Institute · 4 October 2024 English
In response to the potential economic implications of the Protocol and the digital trade challenges identified in Ghana, certain measures can be adopted to increase the economic benefits of the …
innovations that leverage crowdfunding products, remittances, blockchain technology, electronic Know Your …
Cato Institute · 3 October 2024 English
How do we know if the United States is "winning" at international trade? If we ask that question about economic growth, the answer is pretty easy to find: You can …
liabilities but flows: specifically, trade flows, remittances to friends or family abroad, official development …
World Bank Group · 3 October 2024 English
Tonga's economic growth, historically weak due to structural factors facing many Pacific Island countries, has been particularly sluggish in recent years due to several large shocks. Tropical cyclones in 2018 …
...................117 Annex D. Patterns of Remittances Received in 2021 ........................... … ............................ 26 Figure 8. Remittances received have been fast rising, with the GDP … . 43 Figure 18. GDI per capita, including remittances received, grew by 14 percent in real terms … ........................... 51 Figure 24. Remittances are a crucial income source, particularly for … .......................... 53 Figure 25. Remittances received increased both intensive and extensive …
IMF: International Monetary Fund · 2 October 2024 English
The IMF is frequently approached by central banks seeking guidance on the balance between central bank digital currency (CBDC), fast payment systems (FPS), and electronic money (e-money) solutions. Common questions …
capacity for cross-border transactions and remittances (FSB 2024). The same analysis also suggested …
World Bank Group · 2 October 2024 English
This paper summarizes the evidence on the growth and distributional effects of digitalization through four channels: average productivity growth, employment and wages, access to markets, and government finances. First, digitalization …
2014). The frequency and amount of migrant remittances is also relevant here. For example, mobile money … in Kenya are more likely to receive and send remittances (Jack, Ray, and Suri 2013). In Uganda, Munyegera … 20 percentage points more likely to receive remittances from family members compared to nonsubscribers … nonsubscribers, and that the annual value of remittances received by subscribers is one-third higher. However, …
IMF: International Monetary Fund · 2 October 2024 English
Portugal achieved a remarkable recovery from the successive shocks that hit the global economy since the pandemic. Growth exceeded the euro area (EA) average. Inflation decelerated fast. The fiscal position …
5.7 5.3 5.2 6.5 5.6 5.3 4.0 3.7 3.3 Private remittances, net 5.7 5.8 6.1 6.6 6.8 6.7 6.5 6.3 6.1 5.9 … 2.6 2.2 2.0 2.3 1.9 1.8 1.3 1.1 1.0 Private remittances, net 2.7 2.9 2.8 2.7 2.6 2.4 2.2 2.1 1.9 1.8 …
ADB: Asian Development Bank · 2 October 2024 English
This report summarizes presentations and discussions from the Asian Think Tank Forum 2023, which explored pathways for Pacific island economies to pursue sustainable economic development.
5 Foreign Direct Investment, Migration, and Remittances 30 CLOSING 36 APPENDIXES 1 Agenda 37 2 Speaker … domestic demand, rebounding tourism, strong remittances, improving financial conditions, and reopening … positions vacant. Although the country did well in remittances, S. Gounder pointed out that labor shortages … households dependent on government transfers and remittances were associated with higher vegetation damage … 5 Foreign Direct Investment, Migration, and Remittances Moderator: Madhavi Pundit ADB Introductory remarks: …
World Bank Group · 1 October 2024 English
This regional Country Climate and Development Report (CCDR) focuses on four countries of the 11‑member Organization of Eastern Caribbean States (OECS)—Dominica, Grenada, Saint Lucia, and Saint Vincent and the Grenadines. …
Without recourse to the potential of migrant remittances in contributing to climate adaptation and resilience …
World Bank Group · 1 October 2024 English
The Jordan Economic Monitor (JEM) provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank analytic work on …
GDP in 2023, while public grants and workers’ remittances declined, reducing the current transfers surplus … Receipts (% growth) 95.8 110.5 27.4 –0.7 9.8 4.9 Remittances (% growth) 1.0 1.5 1.4 1.8 2.0 2.2 Gross usable …
World Bank Group · 1 October 2024 English
quantifying potential liability due to delayed remittances to inform the resource gap for financing the …