This piece originally appeared in Barron’s on December, 2  2022

At a time when the world faces an extremely challenging outlook, remittances are a vital lifeline for households in developing countries, especially the poorest.  Remittances are primarily money that migrants send home to support their family. They alleviate poverty, improve nutritional outcomes, and are associated with increased birth weight and higher enrollment rates for children in disadvantaged households. Studies show that remittances help recipient households build resilience, for example, through financing better housing and recovering from losses in the aftermath of disasters. 

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