Remittances to low income countries reached record high in 2018

The new World Bank’s migration and development brief states that remittances to low and middle income countries reached record levels over the last year.

Thus, the annual volume of officially registered remittances to low and middle income countries reached record high USD 529 billion in 2018, which exceeds by 9.6% the previous record of 2017 (USD 483 billion).

The report notes that the volume of remittances to low and middle income countries expected to reach USD 550 billion in 2019 and will become the largest source of external financing for these countries.

As The Journalist reported, PrivatBank has introduced direct money transfers with Azerbaijan.