Preliminary estimates by the World Bank showed that remittances to low- and middle-income countries grew by about 3.8 percent in 2023, less than what was achieved in the previous two years.
Indicators revealed that migrants' money flows to their countries of origin amounted to nearly $669 billion at the end of last year, compared to about $794 billion a year ago.
The World Bank shows that remittance flows to Latin America and the Caribbean increased by 8 percent, South Asia by 7.2 percent, East Asia and the Pacific by about three percent, and Sub-Saharan Africa by 1.9 percent.
Source (Al-Arab Newspaper of London, Edited)
