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Home > BSA/AML & Consumer Protection > World Bank Predicts Sharpest Decline of Remittances in Recent History
Apr24 - 20

World Bank Predicts Sharpest Decline of Remittances in Recent History

WASHINGTON, April 22, 2020 — Global remittances are projected to decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdown. The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers, who tend to be more vulnerable to loss of employment and wages during an economic crisis in a host country. Read the complete article HERE.

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