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Remittance inflow prospects and challenges

Remittance inflow prospects and challenges Q8Y0K
For the first time in the country's history, remittance inflow crossed the $24 billion mark in a single fiscal year, a development that has given a breathing space to the government to absorb the economic shocks deriving from the coronavirus pandemic. Migrant workers continued to use formal channels sidestepping the hundi system to send home massive amounts of money. The global hundi cartel, which operates an illegal cross-boundary financial system, has been facing a major disruption since the first quarter of 2020 as the international travelling came to a halt because of the pandemic, fuelling the growth of remittances. Beneficiaries of remittances can easily receive remittance through mobile financial services and agent banking outlets. This has also undermined the hundi system, The 2 per cent cash incentive introduced by the government in 2019 has also encouraged the expatriate Bangladeshis to send more money through the formal channel. Besides, different banks have also given some facilities, including easy technical services. An increase in earnings per migrant worker may also have contributed. Most of the increase in remittances this year so far has come from Saudi Arabia, Oman, the UK and the US. Base salaries in Saudi Arabia grew 4. 5 percent, reportedly the highest in the region. Wage growth in Oman has remained strong, averaging 11. 4 percent. In the UK and the US wages increased by 3. 2 and 3. 6 percent respectively by the end of October 2019. Studies show that remittances tend to rise during downturn phases in the economic cycle. Migrants send more money home to support their financially distressed families. Thus, if the domestic income of the families left behind falls, migrant workers tend to compensate the fall by increasing the amount remitted and vice versa. GDP growth in FY07 was about 0. 38 percentage points higher than in FY06 and 0. 96 percentage points lower in FY09 relative to FY08. While the latter is consistent with strong remittance growth, the former is not. Despite the reduction of outgoing workers, the remittance flow saw a constant rise thanks to some initiatives of the government and bank authorities. The inflow of remittance, one of the main barometers of the economy, continues to rise at a time when the outflow of migrant workers for jobs abroad dropped by 69 per cent year-on-year in 2020. Around 7-8 lakh Bangladeshis used to go abroad every year searching for jobs before the pandemic. But, only 2. 17 lakh people found employment in other countries last year and 1. 95 lakh so far this year, data from the Bureau of Manpower, Employment and Training showed. The majority of migrant workers are unskilled, and they are facing challenges abroad. The government should take initiatives to provide training to those who intend to go abroad for jobs.
For the
first
time in the country's history,
You use this word too often, consider replacing it with
remittance
inflow crossed the $24 billion mark in a single fiscal
You use this word too often, consider replacing it with
year
, a development that has
This phrase/word (depending on the context) can be potentially replaced with :
given
a breathing space to the
You use this word too often, consider replacing it with
government
to absorb the economic shocks deriving from the coronavirus pandemic.
You use this word too often, consider replacing it with
Migrant
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workers
continued to
This phrase/word (depending on the context) can be potentially replaced with :
use
formal channels sidestepping the
Possible spelling mistake found.
hundi
system to
This phrase/word (depending on the context) can be potentially replaced with :
send
home massive amounts of money.

The global
Possible spelling mistake found.
hundi
cartel, which operates an illegal cross-boundary financial system, has been facing a major disruption since the
first
quarter of 2020 as the international travelling came to a halt
This phrase/word is too simple and can be replaced with:
because
of the pandemic, fuelling the
You use this word too often, consider replacing it with
growth
of remittances.

Beneficiaries of
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remittances
can
easily
receive
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remittance
through mobile financial services and agent banking outlets. This has
also
undermined the
Possible spelling mistake found.
hundi
system,

The 2 per cent cash incentive introduced by the
You use this word too often, consider replacing it with
government
in 2019 has
also
encouraged the expatriate Bangladeshis to
This phrase/word (depending on the context) can be potentially replaced with :
send
more money through the formal channel.

Besides
,
This phrase/word is too simple and can be replaced with:
different
banks have
also
This phrase/word (depending on the context) can be potentially replaced with :
given
This phrase/word is too simple and can be replaced with:
some
facilities, including easy technical services.

An increase in earnings per
You use this word too often, consider replacing it with
migrant
You use this word too often, consider replacing it with
worker
may
also
have contributed. Most of the increase in
You use this word too often, consider replacing it with
remittances
this
You use this word too often, consider replacing it with
year
This phrase/word is too simple and can be replaced with:
so
far has
This phrase/word (depending on the context) can be potentially replaced with :
come
from Saudi Arabia, Oman, the UK and the US. Base salaries in Saudi Arabia grew 4. 5 percent, reportedly the highest in the region. Wage
You use this word too often, consider replacing it with
growth
in Oman has remained strong, averaging 11. 4 percent. In the UK and the US wages increased by 3. 2 and 3. 6 percent
respectively
by the
This phrase/word (depending on the context) can be potentially replaced with :
end
of October 2019.

Studies
This phrase/word (depending on the context) can be potentially replaced with :
show
that
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remittances
tend to rise during downturn phases in the economic cycle.
You use this word too often, consider replacing it with
Migrants
This phrase/word (depending on the context) can be potentially replaced with :
send
more money home to support their
financially
distressed families.

Thus
, if the domestic income of the families
This phrase/word (depending on the context) can be potentially replaced with :
left
behind falls,
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migrant
You use this word too often, consider replacing it with
workers
tend to compensate the fall by increasing the amount remitted and vice versa. GDP
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growth
in FY07 was about 0. 38 percentage points higher than in FY06 and 0. 96 percentage points lower in FY09 relative to FY08. While the latter is consistent with strong
You use this word too often, consider replacing it with
remittance
You use this word too often, consider replacing it with
growth
, the former is not.

Despite the reduction of outgoing
You use this word too often, consider replacing it with
workers
, the
You use this word too often, consider replacing it with
remittance
flow
This phrase/word (depending on the context) can be potentially replaced with :
saw
a constant rise thanks to
This phrase/word is too simple and can be replaced with:
some
initiatives of the
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government
and bank authorities.

The inflow of
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remittance
, one of the main barometers of the economy, continues to rise at a time when the outflow of
You use this word too often, consider replacing it with
migrant
You use this word too often, consider replacing it with
workers
for jobs abroad dropped by 69 per cent year-on-year in 2020.

Around 7-8 lakh Bangladeshis
This phrase/word (depending on the context) can be potentially replaced with :
used
to go abroad every
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year
searching for jobs
This phrase/word is too simple and can be replaced with:
before
the pandemic.
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But
,
This phrase/word (depending on the context) can be potentially replaced with :
only
2. 17 lakh
This phrase/word (depending on the context) can be potentially replaced with :
people
found employment in other countries last
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year
and 1. 95
Possible agreement error. The noun 'lakh' seems to be countable, so consider using: "lakhs".
lakh
This phrase/word is too simple and can be replaced with:
so
far this
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year
, data from the Bureau of Manpower, Employment and Training
This phrase/word (depending on the context) can be potentially replaced with :
showed
.

The majority of
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migrant
You use this word too often, consider replacing it with
workers
are unskilled
, and they are facing challenges abroad.

The
You use this word too often, consider replacing it with
government
should take initiatives to provide training to those who intend to go abroad for jobs.
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IELTS essay Remittance inflow prospects and challenges

Essay
  American English
13 paragraphs
463 words
5.5
Overall Band Score
Coherence and Cohesion: 5.5
  • Structure your answers in logical paragraphs
  • ?
    One main idea per paragraph
  • Include an introduction and conclusion
  • Support main points with an explanation and then an example
  • Use cohesive linking words accurately and appropriately
  • Vary your linking phrases using synonyms
Lexical Resource: 5.0
  • Try to vary your vocabulary using accurate synonyms
  • Use less common question specific words that accurately convey meaning
  • Check your work for spelling and word formation mistakes
Grammatical Range: 6.5
  • Use a variety of complex and simple sentences
  • Check your writing for errors
Task Achievement: 5.0
  • Answer all parts of the question
  • ?
    Present relevant ideas
  • Fully explain these ideas
  • Support ideas with relevant, specific examples
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