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World Bank predicts "sharpest decline" of remittances due to COVID-19

Updated : April 23, 2020 01:07 PM IST

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.
Remittance flows are expected to fall across all World Bank Group regions, most notably in Europe and Central Asia.
World Bank predicts

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