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‘Emergency’ for millions as coronavirus severs remittance lifeline

Coronavirus Bangladesh migrant workers

Rome, Italy/Amman, JordanThomson Reuters Foundation When Fathy called his family back home in Egypt a week ago, they asked him to send money, as he had for the past year. But he had none, having lost his job as a car painter in the United Arab Emirates in March, when a coronavirus lockdown was introduced.  […]

Migrant wages sent home set to drop $US142 billion in 2020 – World Bank

Foreign workers in UAE

London, UK/Washington DC, USReuters Global remittances are set to tumble by $US142 billion in 2020, the sharpest fall in recent history, the World Bank estimates, as the coronavirus crisis chokes off a cash lifeline for hard-pressed households in poorer countries. The World Bank on Wednesday said that drop of almost 20 per cent in money […]

Migrants losing $US25 billion a year through remittance fees – UN

Thomson Reuters Foundation Lowering the fees migrant workers pay to send money home could result in $US1 billion more being spent on education in developing countries, the United Nations said on Tuesday. Financial institutions are under pressure after a report by UNESCO, the UN body for education, found the charges to send money to some […]