May 12

Remittances to Some Emerging Markets Grow in Q1 Despite Pandemic-Induced Headwinds

Countries like Georgia, Jordan, Pakistan and Morocco recorded a notable acceleration in remittances growth in the first quarter of 2021 compared to the fourth quarter last year, according to Tellimer Research.

There has been a nearly 30 per cent growth in remittances in the first quarter of 2021 to some countries, with money flowing from very different source regions, according to the research note.

“The growth in remittances in 2021 helped provide partial relief from higher commodity import bills and shortfalls in tourism revenues in emerging and frontier markets,” Hasnain Malik, emerging and frontier markets strategy analyst at Tellimer in Dubai and author of the research, said.

Photo courtesy of Monito.

Source: The National (link opens in a new window)

Coronavirus, Finance
financial inclusion, remittances