Remittances rise to $38 million in 2017 | The Times Group

Remittances rise to $38 million in 2017 | The Times Group:



Remittances rise to $38 million in 2017

Posted By: Taonga Sabola on: April 27, 2018 In: Business No Comments

Malawians living in the diaspora sent back home about US$38 million in 2017, a latest report by

the World Bank has shown.

The amount, according to the Migration and Development Brief released on Monday is $4 million

more than $34 million recorded in 2016.

The bank says remittances to low- and middle-income countries rebounded to a record level in

2017 after two consecutive years of decline.

World Bank estimates that officially recorded remittances to low- and middle-income countries

reached $466 billion in 2017, an increase of 8.5 percent over $429 billion in 2016.

Global remittances, which include flows to high-income countries, grew 7 percent to $613 billion in

2017, from $573 billion in 2016.





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