Remittances, a critical lifeline for millions of people in developing economies, reached nearly $800 billion in 2022. Approximately 80% of these funds, sent by migrants to their home countries, went to low and middle-income nations. This amount, about four times greater than last year's official development assistance from all advanced economies, highlights the potential role of remittances in poverty reduction. Also, studies show that a 10% increase in international remittances as a share of a country’s GDP can lead to a 1.6% drop in poverty rates.
UNCTAD, partners to showcase emerging trade opportunities for developing countries – New Business Ethiopia
newbusinessethiopia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newbusinessethiopia.com Daily Mail and Mail on Sunday newspapers.
UNCTAD eWeek 2023: Navigating the Evolving Digital Landscape for Inclusive and Sustainable Development
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.