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

Governor of Mahra discusses with U.S. Ambassador efforts to establish security, stability

The Governor of al-Mahra governorate Mohammed Yasser discussed today, Tuesday, with the American Ambassador to the Republic of Yemen Steven Fagin underway efforts to establish security, stability and improve basic services in the governorate.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

Japan's LNG imports down 1.4 percent

Japan's liquefied natural gas (LNG) imports fell 1.4 percent to 64.98 million tons last year 2025, compared to 2024. according to provisional data released by the Japanese Ministry of Finance today, Thursday.

Paris Saint-Germain temporarily tops the French league after their win against Auxerre

Paris Saint-Germain defeated Auxerre 1-0 in their Ligue 1 match on Matchday 19.

Last Update: ، 2026/01/27 Time 05:11:26
Latest News:

Yemen's Water and Environment Minister Meets Dutch Ambassador

Vice Foreign Minister, South Africa Ambassador discuss joint cooperation

Aden Governor Meets UNICEF to Boost Cooperation on Child Welfare

Yemen Ambassador Discusses Revitalizing Trade with Indonesia

Yemen's Ambassador Discusses Bilateral Ties with Spanish Official

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."