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| | | Title | The impact of COVID-19 on remittances for development in Africa | | Author | Bisong, Amanda; Ahairwe, Pamella Eunice; Njoroge, Esther | | Subject | COVID 19 | | Date of Publication | 20200516 | | Publisher | ECDPM | | Number of Pages | 32 pages | | Language | English | | Geographical Coverage | Africa | | Keywords | COVID 19 Pandemic | | Abstract | Remittance flows, which are an integral part of development finance, proved relatively resilient during the 2008 financial crisis and the 2014 Ebola epidemic. However, they are currently under threat by the COVID-19 pandemic. Lockdown measures implemented in host countries have caused many migrants to lose their jobs, consequently reducing remittance flows to developing countries. In 2020, the World Bank estimates a historical decline in global remittances of US$110 billion, with sub-Saharan Africa (SSA) expected to experience a decline of about 23.1%.. The paper also highlights the short- and medium-term measures that policymakers and development partners in both sending and receiving countries should take to lessen the decline in remittance flows. | | Copyright Holder | ECDPM | | Copyright URL | http://www.ecdpm.org | | Filesize | 1142085 MB | | File Format | PDF | | [ View / download original document ] |
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