In 2024, remittances to Latin America and the Caribbean surged to approximately $156 billion, a significant increase from previous years. This amount surpasses the annual lending of the World Bank to developing countries and exceeds all the outstanding loans the International Monetary Fund (IMF) has with almost 100 countries. JPSpinetto described this financial influx as a potential catalyst for regional integration and a means to incorporate low-income workers into the formal economy, emphasizing its life-changing impact. The rise in remittances is part of a broader trend where global remittances have dramatically increased, with figures reaching $831 billion in 2022 from $128 billion in 2000.
India has become the first country to receive over $100 billion in remittances in 2022, according to the United Nations migration agency. The International Organisation for Migration (IOM) revealed in its World Migration Report 2024 that India’s remittances surged to $111… https://t.co/HNihRCzQMC
India received over $111 billion in remittances in 2022, first country to ever reach that figure: UN https://t.co/LRgkqOrhcA
India Becomes 1st Country To Receive Over $100 Billion In Remittances: UN https://t.co/HX8ixZ1CmP https://t.co/CIFBqW68sk
India Leads Global Inbound Remittances https://t.co/bX14EMqiqF
Migrant remittances increased by more than 650% from 2000 to 2022, rising from $128 billion to $831 billion, @UNmigration says in #WMR2024 report. https://t.co/4t6xQTnMZ9
The International Organisation for Migration found that international transfers increased 650% from $128bn (£102bn) to $831bn (£662bn) between 2000 and 2022.
Soaring remittances to developing nations overtake foreign direct investment https://t.co/V3JjPgGVR5
Military spending, 2023: 🇺🇸USA: $916 billion 🇨🇳China: $296 billion 🇷🇺Russia: $109 billion 🇮🇳India: $83.5 billion 🇸🇦Saudi Arabia: $75.8 billion 🇬🇧UK: $74.9 billion 🇩🇪Germany: $66.8 billion 🇺🇦Ukraine: $64.7 billion 🇫🇷France: $61.3 billion 🇯🇵Japan: $50.1 billion 🇰🇷South Korea:…
Latin Americans received ~$156 billion in remittances in 2023, more than what the World Bank Group lends every year and more than all the outstanding loans that the IMF has with almost 100 countries I wrote about this financial revolution for @opinion https://t.co/QPXBDLGbO2
Biggest population, 2023 🇮🇳 India: 1,428 million 🇨🇳 China: 1,425 million 🇺🇸 United States: 340 million 🇮🇩 Indonesia: 277 million 🇵🇰 Pakistan: 240 million 🇳🇬 Nigeria: 223 million 🇧🇷 Brazil: 216 million 🇧🇩 Bangladesh: 173 million 🇷🇺 Russia: 144 million 🇲🇽 Mexico: 128 million UN
The surge in remittances from the US to Latin America offers a chance to promote regional integration and the inclusion of low-income workers into the formal economy, says @JPSpinetto https://t.co/QbCv49yoIF via @opinion
Last year, LatAm and the Caribbean took in remittances worth more than what the World Bank lends to developing countries and more than all the outstanding loans that the IMF has with almost 100 countries. That's life-changing cheddar, says @JPSpinetto https://t.co/CHj8LzZt3Y
Remittances to LatAm/Caribbean reached $156 BLN in '24 -- almost 3X more than a decade ago & more than what the World Bank lends to developing countries each year & more than all the loans the IMF has with @ 100 countries, says @JPSpinetto https://t.co/GJcBms9a6l via @opinion
The surge in remittances from the US to Latin America offers a chance to promote regional integration and the inclusion of low-income workers into the formal economy, says @JPSpinetto https://t.co/ZJbu9P0LIF