All News and Announcements
Defying Predictions, Nepal’s Remittances Still High
Despite dire predictions about a drastic drop in remittances that Nepal gets from its workers abroad due to the COVID-19 induced economic downturn, money transfers have remained steady.
Pandemic’s Effect on Remittances to Latin America Varied
As the COVID-19 pandemic froze the United States economy, not all Latin American immigrants living there were affected equally.
Remittances to Mexico Hit Third Highest Level on Record in July
Remittances sent to Mexico, a major support for the Mexican economy and in particular for low-income families, continued its historic 2020 run and rose in July to the third highest level on record.
COVID-19 Hits Remittances To Vietnam
Overseas remittances are expected to fall short of the target this year due to the economic crisis caused by the COVID-19 pandemic and shutdowns around the world.
India: Government Survey To Focus on Migrant Woes and Assess Remittance Risk
The household survey will also capture remittance risks to the rural economy until the pandemic is contained.
Pakistan Cites New Transfer Rules in Remittances Boost
In a rare instance of COVID-19 helping a country’ s economy, Pakistan saw a significant uptick in remittances from nationals working overseas in July.
Asia-Pacific May See $31.4-54.3 BN Remittance Losses Due to COVID-19: ADB
Asia Pacific, which accounts for a third of the global migrant workforce, is likely to face remittance losses of $31.4-54.3 billion due to the coronavirus pandemic, the Asian Development Bank (ADB) said in a report.
Overseas Filipino Worker Remittances May Drop by $5 Billion This Year
Latest data from the Bangko Sentral ng Pilipinas (BSP) showed cash remittances coursed through banks declined by 6.4 percent to $11.55 billion from January to May compared to $12.35 billion in the same period last year.
Bangladesh: Remittance Hits Record High in July
Many expats have been sending money as part of their preparation to return home due to joblessness abroad.
Drop in Remittances to Hurt Consumption in Philippines
Moody’s said the fall in remittances could further widen the current account deficit of the Philippines and other countries.