{"id":9394,"date":"2022-05-20T08:55:00","date_gmt":"2022-05-20T03:25:00","guid":{"rendered":"https:\/\/polscienceweb.com\/?post_type=portfolio&#038;p=9394"},"modified":"2022-05-21T09:01:53","modified_gmt":"2022-05-21T03:31:53","slug":"remittances-to-reach-630-billion-in-2022-according-to-the-world-bank","status":"publish","type":"portfolio","link":"https:\/\/polscienceweb.com\/index.php\/portfolio\/remittances-to-reach-630-billion-in-2022-according-to-the-world-bank\/","title":{"rendered":"Remittances to Reach $630 billion in 2022, according to the World Bank"},"content":{"rendered":"\n<h4 class=\"has-text-align-center wp-block-heading\"><strong>What are remittances?<\/strong><\/h4>\n\n\n<div class=\"has-text-align-center wp-block-post-date\"><time datetime=\"2022-05-20T08:55:00+05:30\">20th May 2022<\/time><\/div>\n\n\n<div style=\"height:21px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<details class=\"wp-block-verse\" style=\"font-size: 18.5px; text-align: justify;\">\n<summary class=\"wo-block-verse\" style=\"font-size: 18.5px; text-align: center;\">Read more<br><br><\/summary>\n\n\n\n<p class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">Workers&#8217; or migrant remittances occur when migrants send home a portion of their earnings in the form of cash or goods to support their families. Money transfers from citizens working abroad are a lifeline for many developing countries. They have grown rapidly in recent years and are now the primary source of foreign income for many developing economies.<\/p>\n\n\n\n<p class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">Remittances are to reach $630 billion in 2022, according to the World Bank\u2019s latest Migration and Development Brief.<\/p>\n\n\n\n<div style=\"height:22px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\" align=\"center\"><figure class=\"aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"305\" height=\"295\" src=\"https:\/\/polscienceweb.com\/wp-content\/uploads\/2022\/05\/Screenshot-2022-05-21-at-8.44.05-AM.png\" alt=\"\" class=\"wp-image-9392\" srcset=\"https:\/\/polscienceweb.com\/wp-content\/uploads\/2022\/05\/Screenshot-2022-05-21-at-8.44.05-AM.png 305w, https:\/\/polscienceweb.com\/wp-content\/uploads\/2022\/05\/Screenshot-2022-05-21-at-8.44.05-AM-300x290.png 300w\" sizes=\"(max-width: 305px) 100vw, 305px\" \/><figcaption><strong>Top Recipients among Low- and Middle-Income Countries, 2021<\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<p class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">However, remittances to many Central Asian countries, the main source of which is Russia, are expected to fall dramatically. These declines, combined with rising food, fertilizer, and oil prices, are likely to escalate food security risks and poverty in many of these countries.<\/p>\n\n\n\n<p class=\"wp-block-verse\" style=\"font-size: 18px; text-align: justify;\">The top five recipient countries for remittances in 2021 were India, Mexico (replacing China), China, the Philippines, and Egypt.<\/p>\n\n\n\n<\/details>\n\n\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center\">Source: <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2022\/05\/11\/remittances-to-reach-630-billion-in-2022-with-record-flows-into-ukraine\" target=\"_blank\" rel=\"noreferrer noopener\">World Bank<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What are remittances? Workers&#8217; or migrant remittances occur when migrants send home a portion of&hellip;<\/p>\n","protected":false},"author":1,"featured_media":9391,"comment_status":"closed","ping_status":"closed","template":"","portfolio-category":[428,439,426],"class_list":["post-9394","portfolio","type-portfolio","status-publish","has-post-thumbnail","hentry","portfolio-category-428","portfolio-category-may-2022","portfolio-category-newsfeed"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Remittances to Reach $630 billion in 2022, according to the World Bank<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/polscienceweb.com\/index.php\/portfolio\/remittances-to-reach-630-billion-in-2022-according-to-the-world-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remittances to Reach $630 billion in 2022, according to the World Bank\" \/>\n<meta property=\"og:description\" content=\"What are remittances? 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