World Bank expects 20% reduction in remittances

Index
    USD
    USD

    In 2020, international money transfers will be reduced by 20% due to the economic crisis and the fight against COVID-19. as expected by the World Bank.

    The main reason for the reduction is the closed borders and the reduction of jobs in which migrant workers were employed. People lose their jobs and therefore will not send their relatives about $ 445 billion to their homeland.

    This will seriously affect the economies of developing countries, the majority of whose population goes abroad in search of work.

    Related News

    Leave a Reply

    Your email address will not be published.

    Go up

    We use cookies to understand how you use our website and to improve your experience. This includes personalizing content and advertising. By continuing to use our site, you accept our use of cookies.