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

Yemen Says Houthi Militia Poses Direct Threat to Regional Peace, Condemns Attacks on Gulf Infrastructure

Yemen has affirmed that the Iran-backed Houthi militia poses a direct threat to regional peace and security and to international navigation, saying the group is a tool used to undermine Yemen’s sovereignty and stability, disrupt basic services, and obstruct the delivery of humanitarian assistance to those in need.

Arab League Calls for Confronting Rising Anti-Muslim Hate

The Arab League on Sunday called for intensified international efforts to confront the growing phenomenon of hate speech and discrimination against Muslims in order to prevent deeper divisions among religions and cultures.

Italian Industrial production falls 0.6 percent

Industrial production in Italy experienced an unexpected decline of 0.6 percent in January compared to December, according to seasonally and calendar-adjusted figures.

Saudi League: Al-Nassr, Al-Ettifaq and Neom Secure Victories Over Al-Ittihad, Damac and Al-Riyadh

Al-Nassr defeated its guest Al-Ittihad 2–0 in the match that brought them together at Al-Awwal Park Stadium in Riyadh, as part of the 21st round of the Saudi Professional League.

Last Update: ، 2026/03/17 Time 05:35:25
Latest News:

Aden Governor Discusses Improving Postal Services

Minister al-Kaf Discusses Strengthening Energy Cooperation with British Ambassador

Al-Khanbash: Efforts need to be joined to help IDPs

President al-Alimi: The region's stability contingent on deterring Iranian regime, its armed militias

Minister of Local Administration Discusses Efforts to Strengthen Decentralization with German Ambassador

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."