The impact of COVID-19 on remittances

As the world economy grinds to a halt with country after country shutting down in all but the most essential activities, the focus has been on stimulus packages, equity, fixed-income markets, and moves targeting currency and commodity prices.There was less focus on lower-income countries. Some 80 countries have approached the International Monetary Fund (IMF), which is ready to deploy its full quick-response toolbox consisting of debt relief for IMF loans, rapid-financing facilities and a trillion-dollar lending facility. Some of the G20’s $5 trillion coronavirus rescue package, which was anno…

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