Recently Wold Bank has released Migration and Development report in 2019 Which of the following stat...........

Economic Affairs Types of Banks and Banking

Recently Wold Bank has released Migration and Development report in 2019. Which of the following statement(s) is/are correct regarding this report?

There is decrease in annual remittance flows to low and middle-income countries.
Flow of remittances is larger than foreign direct investment in low and middle-income countries.

Select the correct code.

1 only

2 only

Both 1 and 2

None of the above

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Explanation:

Both statements are incorrect.

The Bank estimates that officially recorded annual remittance flows to low- and middle-income countries reached $529 billion in 2018, an increase of 9.6 percent over the previous record high of $483 billion in 2017.
Excluding China, remittances to low- and middle-income countries ($462 billion) were significantly larger than foreign direct investment flows in 2018 ($344 billion).

Hence option 4th is correct.