mo4ch:>Money sent by migrants to their homelands exceeds $500 billion – World Bank | Mo4ch News
The volume of money sent by foreign workers to their home countries reached a record-breaking $529 billion last year, and is set to become the main source of external financing for those states in 2019, the World Bank reports.The amount represents an upsurge of 9.6 percent against the previous record of $483 billion fixed in 2017. Money transfers to poor and developing countries accounts for 77 percent of global remittances that reportedly reached $689 billion in 2018, up from $633 billion in 2017, according to the latest migration and development brief released by the World Bank earlier this week.Also on rt.comFive countries with the world’s biggest gold reservesIndia retained the position of the world’s top recipient of the transfers with its nationals sending home an estimated $79 billion last year. The country saw a significant boost in remittances over the last three years, from $62.7 billion in 2016 to $65.3 billion 2017.“Remittances grew by more than 14 percent in India, where …