Like many other aspects of the global economy, remittances are set to suffer a major hit in 2020.

“Remittances are a vital source of income for developing countries,” World Bank President David Malpass noted last month. “The ongoing economic recession caused by Covid-19 is taking a severe toll on the ability to send money home and makes it all the more vital that we shorten the time to recovery for advanced economies.” (CONTINUED - 793 WORDS)