World Bank: Remittances to Low, Middle-Income Countries Declined in 2023

Minister Al-Qudaimi Discusses Strengthening Bilateral Relations with Indian Foreign Ministry Official

Minister of State Walid Al-Qudaimi held talks on Friday in New Delhi with Secretary of Visas and Overseas Indians Affairs at the Indian Ministry of External Affairs, Sripriya Ranganathan, on ways to strengthen and develop bilateral relations between the two friendly countries across various fields of mutual interest.

Arab League Calls for Confronting Rising Anti-Muslim Hate

The Arab League on Sunday called for intensified international efforts to confront the growing phenomenon of hate speech and discrimination against Muslims in order to prevent deeper divisions among religions and cultures.

Oil price tops $100 a barrel

Oil prices jumped above $100 per barrel today, Monday, as the U.S. Navy prepares to take control of ship movements in the Strait of Hormuz.

Inter Milan a win away from Serie A title

Inter Milan continued its successful march to reclaim the Italian football league title, despite drawing with its host Torino (2-2), in the conclusion of the 34th round of the competition.

Last Update: ، 2026/05/09 Time 12:14:53
Latest News:

Leadership Council Chairman Attends Djiboutian President’s Inauguration Ceremony

Jamila Raja Presents Copy of Credentials to U.S. State Department

Ambassador al-Madawi Discusses Arrangements with Sudanese Foreign Ministry Protocol Director of Resumption ..

Al-Qudaimi Meets Omani Ambassador, Mauritius Foreign Minister, IORA Secretary-General

Yemen, US Discuss Strategic Partnership in Mining, Energy

World Bank: Remittances to Low, Middle-Income Countries Declined in 2023

[27/06/2024 06:57]

WASHINGTON - SABA
The World Bank announced that official remittances to low and middle-income countries declined in 2023 to an estimated $656 billion, after experiencing strong growth during the 2021-2022 period.

The Bank's latest Migration and Development Brief stated: "In 2023, remittances surpassed the levels of foreign direct investment and official development assistance.

Remittances to low and middle-income countries are expected to grow faster at 2.3% in 2024, although this growth will be uneven across regions."

Potential downside risks to these projections include a sharper-than-expected slowdown in economic growth in high-income host countries, as well as volatility in oil prices and exchange rates.

Efa Shereef, the World Bank's Global Director for Social Protection and Jobs, said: "Migration and the resulting remittances are core drivers of economic and human development, and many countries are interested in managing migration activities to address global demographic imbalances and labor shortages."