Global remittances up by 5% in 2022 despite headwinds, says World Bank

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Global remittances up by 5% in 2022 despite headwinds, says World Bank - The Edge Markets

Quick Summary:

It said they alleviate poverty, improve nutritional outcomes, and are associated with increased birth weight and higher school enrolment rates for children in disadvantaged households.

The bank said remittance flows to developing regions were shaped by several factors in 2022.

It said that in 2022, a single country, namely India, for the first time is on track to receive more than US$100 billion in yearly remittances.