In the past year, which of the following is true about remittances?
Remittances in 2021 decreased as migration decreased.
Remittances increased in 2021 due to digitally based systems.
Remittances decreased due to the switch away from a cash system.
Remittances increased in 2021 because costs increased.
Based on the given options, the statement "Remittances increased in 2021 due to digitally based systems" is the most accurate.
Based on the information provided, it is possible to determine that the following statement is true about remittances in the past year:
- Remittances increased in 2021 due to digitally based systems.
Please note that without access to specific data or sources, it is not possible to provide a completely accurate answer. It is always recommended to consult reliable sources for up-to-date and comprehensive information.
To determine which of the given statements about remittances in the past year is true, we can analyze each option one by one:
1. "Remittances in 2021 decreased as migration decreased": To determine the correlation between remittances and migration, you would need to analyze data on both remittances and migration patterns in the past year. Look for reliable sources such as government reports, international organizations, or financial institutions' publications. By comparing the data on remittances and migration, you can assess if remittances decreased in line with a decline in migration.
2. "Remittances increased in 2021 due to digitally based systems": To determine the impact of digitally based systems on remittances, you can refer to studies, reports, or news articles that discuss the adoption and effect of digital systems on remittance flows. Look for information on the growth of digital platforms for remittance transfers and how that may have influenced the overall remittance volume in 2021.
3. "Remittances decreased due to the switch away from a cash system": To assess the impact of switching the remittance system away from cash, you would need to find data or sources that indicate a shift in payment methods for remittances. Look for studies, reports, or news articles that provide information on changes in remittance payment channels (such as cash-based or digital/online transfers) and any associated impact on remittance levels.
4. "Remittances increased in 2021 because costs increased": To determine if the increase in remittances is due to increased costs, you could explore reports, articles, or research that discusses pricing changes in the remittance industry. Look for information on factors like fees, exchange rates, or other costs associated with remittance transfers and how they may have affected remittance inflows in 2021.
Remember to critically analyze the information and compare multiple sources before drawing conclusions about the true statement regarding remittances in the past year.