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Press Release: Covid-19: Remittance Flows To Shrink 14% by 2021
International migration to fall in 2020 for the first time in recent decades
- Categories
- Coronavirus, Finance, Technology
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Next Phase of India’s Skill Programme to Focus on Quality, States’ Role
The Centre will soon unveil the next phase of its flagship skill development programme, the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), which will primarily focus on the role of states, the fate of migrant workers, and the employment scenario.
- Region
- South Asia
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Viewpoint: How to Save Vital Remittances to the Developing World
The remittance safety net is under threat from job losses in sectors heavily dependent on migrant labor, and any proposal that the G20 nations maintain remittance flows would probably meet with derisive laughter; it would be tantamount to demanding that foreign countries bankroll the developing world’s non-existent safety nets. So the question is, what can be done?
- Categories
- Coronavirus, Finance
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Bangladesh Faces a Crisis in Remittances Amid COVID-19
The economic importance of the more than 10 million migrants from Bangladesh who sent close to $18 billion in 2019 cannot be overstated. International remittances normally represent around 7% of Bangladesh’s GDP. But the COVID-19 pandemic is having an acute effect on Bangladeshi migrants abroad, who are largely concentrated in countries with strict lockdown measures. Considering the large volume of Bangladeshi migrants in the Middle East, secondary economic impacts through depressed demand and falling oil prices will also likely add strain to the flow of remittances.
- Categories
- Coronavirus, Finance
- Region
- Asia Pacific
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Amid COVID Crisis, an Appeal to Facilitate Migrant Remittances
More than 200 million migrants across the globe send remittances to their home countries, many of them on the African continent, and that means some 800 million family members depend on them.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
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How Coronavirus Is Impacting Digital Payments in Emerging Markets
Digital payments have been growing rapidly in emerging markets over the last ten years or so, since the establishment of MPESA in Kenya in 2007, writes Pavel Matveev, CEO of Wirex. MPESA relies on 120,000 retail agents who take in and dispense cash to users around the country, and in 2017, MPESA processed 1.7 billion payments […]
- Categories
- Coronavirus, Finance, Technology
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Four Stories of Financial Exclusion: How Identity Barriers are Blocking Financial Access for Refugees and Other Vulnerable Groups
Venezuela's emigration crisis has reached epic proportions. And according to Anjali Ramachandran at Storythings, among the millions who have fled the country, countless people lack financial access because they struggle to prove their identity. She highlights the stories of refugees and others whose lives could be improved by alternatives to traditional ID requirements.
- Categories
- Finance
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Migrant Wages Sent Home Set to Drop $142 Billion in 2020
The World Bank on Wednesday said that drop of almost 20% in money migrant workers send home - about four times greater to low- and middle-income countries than during the 2009 financial crisis - would largely be due to a fall in their wages and employment overseas.
- Categories
- Coronavirus, Finance
- Tags
- coronavirus, LMICs, migrants, remittances, World Bank
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