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COVID-19 impacts will cut Latin American remittances

Content type:: Expert Briefings
Location:: LATIN AMERICA
Keywords associated with this article:: Geographic: Latin America LA/C Italy Spain United States Caribbean Central America Mexico

Topical: economy industry politics social banking employment finance government growth health immigration policy poverty refugees remittances
ISSN:: 2633-304X
Citation:: Oxford Analytica (2020), "COVID-19 impacts will cut Latin American remittances", Expert Briefings.
https://doi.org/10.1108/OXAN-DB253192

Thursday, June 11, 2020

Significance

The contraction, after several years of robust growth, will stem from a deep recession and measures to contain the spread of COVID-19.

Impacts

Rising unemployment in South American countries hosting Venezuelan migrants, and the return of many to Venezuela, will cut remittances.
Efforts to educate migrants on using digital channels to send money home are likely to increase.
Hostile attitudes towards immigrants in LAC will rise as a result of the economic crisis.

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