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Remittances remain resilient but are slowing migration and development. The Migration and Remittances Team of the World Bank has found that remittances are still an important source of income for many countries, but the growth rate is slowing down. This is due to a combination of factors, including changes in migration patterns and the economic impact of the COVID-19 pandemic. Despite this, remittances remain a crucial source of funding for development and can help to support poverty reduction efforts. The report also highlights the importance of addressing the root causes of migration, such as economic opportunities and political instability, in order to promote sustainable development.
