Drop in global remittances may worsen poverty
Drop in global remittances may worsen poverty
Many migrants around the world send money back to their home countries. These are called remittances. But due to COVID-19, the World Bank is expecting remittances to decrease 20% globally in 2020, the largest decline it has ever recorded. The money sent home to family members in the developing world is often a financial lifeline that keeps people out of poverty. Without these critical funds, experts predict, many families will go without health care, food and filling other basic needs.
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