Remittance flows – the funds migrant workers send to their families back home – are projected to make their sharpest decline in history thanks to the coronavirus pandemic. And the disruption threatens to push millions of poor families deeper into poverty, the United Nations has warned in the run-up to the International Day of Family Remittances.
Remittances, a Vital Financial Lifeline, Are Being Squeezed
Location
Global
Each year, migrant workers send money to 800 million family members. However, the pandemic is severely disrupting flows.
Location
Global
Topic
Policy and Regulations