The World Bank (WB) has revised down its estimation of remittance inflows for 2015 to $7.2 billion, according to its Migration and Development Brief released in April. An earlier report issued in October forecasted the remittances at $7.5 billion, a 2.8 decrease from 2014.
The decline in oil prices has negatively affected remittance inflows especially from Gulf States and oil producing African countries, said Marwan Barakat, Head of Research at Bank Audi. Remittances from expatriates in G...
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