'There will be months of ups and downs but by the end of the year, OF
remittance growth should settle right at 3 to 4 percent and will help the Philippines chase
Pakistan has a trend of receiving the largest amount of
remittances in a year in Ramazan.
- Get in-depth understanding of international inbound
remittance across key states/regions of South Africa
On the other hand, the BSP chief said cash
remittances coursed through banks increased by 5.7 percent to $2.61billion in May from $2.47 billion in the same month last year.
These cash
remittances, according to BSP Governor Benjamin E.
"
Remittances grew by more than 14 percent in India, where a flooding disaster in Kerala likely boosted the financial help that migrants sent to families," the Bank said.
From this we can estimate that 3.5 million children (40% of 9 million)in lower and lower-middle income countries are kept in school because of
remittances.
No solutions are yet in sight for practices that drive up costs, such as de-risking action of banks, which lead to closure of bank accounts of
remittance service providers.
Remittances to the Middle East and North Africa region are projected to grow by 9.1 per cent to US$59bn in 2018, following six per cent growth in 2017.
Remittance flows to countries in Europe and Central Asia remained robust in 2018, rising by about 20 per cent in 2018, reaching a new record high of $63 billion.
where A is a constant, R represents
remittance income and r is the real interest rate.
UAE
remittance inflows were recorded at $3.263 billion during July-April FY 2017-18 compared against $3.487 billion a year ago.
