Covid-19 and migrant remittances: A hidden crisis looming?

The coronavirus (Covid-19) pandemic has had an enormous impact on international flows of migrant remittances, which represent a significant source of economic support for many poor countries. The World Bank estimates that global remittances fell by 7% in 2020, surpassing the 5% decline seen during the global financial crisis in 2009. Recessions in host countries…