Can central banks cut remittance fees to sustainable levels?
More action is needed to reach the UN’s 3% global average cost target. But central banks face limits on what they can do
International remittance flows are often a key source of investment in developing economies. Remittances also provide a metric for financial inclusion through payments. These attributes have led some major central banks and governments around the world to recognise promoting remittances as critical to their missions.
The United Nations Children’s Fund (Unicef) describes international remittances as “private transfers from individuals to other individuals, typically not part of any business
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