Impact of COVID-19 on Myanmar’s migrants and remittances

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The decline in the flow of remittances to Myanmar represents the loss of crucial financial support for many vulnerable households, and in addition to the rapidly intensifying economic effects of COVID-19 on the country of origin, they are also impacting the local economies of host communities.

Deep commitments must be made and delivered to help relieve the severe difficulties faced by Myanmar’s migrants in 2020, including action that must be accelerated towards a more inclusive financial future – for migrants, for their host economies, and for their beneficiary families, friends and communities at home.

Digital transformation is crucial to support the wider banking ecosystem as well as these vital flows of remittances now being so sorely affected by the coronavirus pandemic.

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