WASHINGTON, USA – Millions of families around the world- even some countries, rely on workers living abroad to keep their economies afloat.
In fact, global remittances reached a record $647 billion in 2022 -three times that of official development assistance. Dilip Ratha is lead economist for migration and remittances at the World Bank.
In this podcast, journalist Rhoda Metcalfe asks Ratha about his own experiences growing up in rural India and how they led him to become a leading voice on the power of remittances to reduce global poverty.
Ratha says remittances are timely, large, stable, and best of all, they are countercyclical. Transcript