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‘Critical lifeline’ of migrant cash expected to near £600bn in total
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Migrants from low- and middle-income countries are expected to send almost £600bn back to support friends and relatives by the end of the year, following global economic growth spurring a 7.3% rebound in remittance payments.
The increase in cross-border payments, especially from migrants based in Europe and the US, reversed a 1.7% fall in remittance payments last year, the World Bank said.
Only 18 months ago the bank, based in Washington DC, feared that the pandemic would send remittance payments
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