Remittances Are Expected To Fall By 20%. What Does This Mean For The Economy?

With a worldwide recession, i.e. economic slump, remittances from sending countries are expected to reduce anywhere from 11% to as high as 26%. Such a downturn in remittances also results in a large exodus of blue-collar workers who are leaving and going back home. Each worker = one family roughly.

How will this affect the economies that depend on remittances?

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