Remittances set to drop 30% in 2020 ; Philippines, Egypt among most exposed | ZAWYA MENA Edition
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▻https://www.zawya.com/mena/en/business/story/Remittances_set_to_drop_30_in_2020_Philippines_Egypt_among_most_exposed-ZAWYA
During the global financial crisis (GFC), remittances fell by about 5 percent. As the COVID-19 recession affects even more countries simultaneously, especially host countries in the emerging markets, a drop of 20-30 percent seems possible, a latest report from Institute of International Finance (IIF) said.