What are remittances?
A) the transfers of money from foreign workers to their home country
B) grants given for development aid
C) the profits made from FDI
D) interest rate paid to the IMF
E) a crawling peg exchange system

Question

Quizplus · Accepted Answer

Remittances refer to the transfers of money from foreign workers to their home country, typically to family members who reside there. It is a significant source of income for many developing countries and is often used for household expenses and investment in education and small businesses.

What Are Remittances