looking beyond borders

foreign policy and global economy

World Bank Predicts Sharpest Decline Of Remittances In Recent History

Photo by Pepi Stojanovski on Unsplash

Global remittances are projected to decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdown. The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers, who tend to be more vulnerable to loss of employment and wages during an economic crisis in a host country.

Read Here – World Bank

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