Remittances Quiz

What are money transfers often called?

• Donations

• Investments

• Refunds

• Remittances

What is the main purpose of sending money back home?

• To support family's basic needs

• To go on vacations

• To invest in stocks

• To buy luxury items

In which country do remittances exceed revenue from oil exports?

• Egypt

• Sri Lanka

• India

• Mexico

What is the approximate amount of remittances in 2022?

• 1 trillion USD

• 831 billion USD

• 700 billion USD

• 500 billion USD

What is the downside for low-income and developing countries when sending money through a service?

• High service charges

• Delayed delivery

• No customer support

• Limited options

What do remittances help reduce?

• Poverty

• Corruption

• Unemployment

• Inflation

What is the main benefit of remittances for low- and middle-income countries?

• Higher government revenue

• Increased foreign investments

• Improved infrastructure

• Economic support for families

What is the approximate percentage of remittances in the global GDP?

• 20%

• 15%

• 10%

• 5%

What is the estimated additional amount that low-income and developing countries could receive if the average service charge is lowered to 3%?

• $20 billion

• $10 billion

• $40 billion

• $30 billion

What is the main purpose of remittances for people working outside their home country?

• To buy expensive gifts

• To invest in local businesses

• To support their families back home

• To increase their personal savings