In the past year, which of the following is true about remittances?(1 point)

Question

Responses

Remittances in 2021 decreased as migration decreased.
Remittances in 2021 decreased as migration decreased.

Remittances decreased due to the switch away from a cash system.
Remittances decreased due to the switch away from a cash system.

Remittances increased in 2021 because costs increased.
Remittances increased in 2021 because costs increased.

Remittances increased in 2021 due to digitally based systems.

Answer 1

The correct statement from the options provided is:

Remittances increased in 2021 due to digitally based systems.

In 2021, many remittance flows saw increases, partly attributed to the growing adoption of digital platforms that facilitated easier and faster transfers, even in the context of challenges caused by the pandemic.