Remittance

Welcome to the Voice of America’s New Words.The world bank says migrant workers in the United Stated have increased the amount of money they send home.remittance.Last year,$466 billion in remittances flowed to low and middle-income countries.That figure is estimated to grow to $485 billion this year.Remittances are a lifeline to many countries that are facing some sort of a crisis.The poorer the country,the larger their dependence on remittances.A remittance is money sent,usually by mail,as a payment or as a gift.Here,it is money that migrants earn in one country,and then send their families in their home countries.

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