Remittances, More Important Than Ever, Continue to Flow During Pandemic
Migrants Keep Money Flowing Home as Rich Economies Bounce Back is the Wall Street Journal headline. The article follows the story of how remittances have become more important than ever to receiving families in countries hard hit by the global pandemic. Monies sent from relatives working in wealthy countries abroad have helped families to survive the economic hit — giving them the ability to pay for needed food and medicine. Some senders have increased their contributions to families abroad, knowing that they’re facing particularly tough times. “It is a lifeline,” said one recipient of remittances.
This WSJ’s global analysis (with interviews and data from the Philippines, India, Latin America, and the Caribbean) jibes with the conclusions of the LA times back in September 2020 regarding pandemic-related increases in remittances to Mexico and Central America.
-KitJ