Thu, Mar, 30, 2023

COVID-19 impacts on labour migration : Remittance inflows to reduce by 20%

Published on :  23 April, 2020 7:15 pm

23 April Kathmandu : A study by the World Bank (WB) group revealed that the remittance inflow will be heavily dented globally due to COVID-19.

The report stated that the remittance inflow will decrease by 20 per cent as the migrants all over the world are affected from the pandemic and lockdown.

As the countries of work destinations are grappling with the COVID-19, unemployment has gone up and entire economic activities were closed, severely affecting the employment generating countries and companies, the report released on Wednesday stated.

Likewise, the situation will abet poverty while the countries with low and middle incomes will have to bear heavy dent, according to the report.

The WB report also cautioned that the life will be harsher for livelihood and food crisis severe. The report forecasted that remittance inflow will decrease by 22.1 per cent in the South Asian countries.

NepalBahas is an online news portal run & managed by Sadawahar Media House Pvt. Ltd. A Nepali Version of this site is also in operation viz. NepalBahas publishes political & economic centric news on a daily basis. We strongly believe that politics cannot exist without any economic agenda and vice-versa. News related to politics, banking, insurance, business, tourism, exposing corruption, employment related, national security, crime, sports, agriculture, health, education, entertainment, science and technology is our forte.
Please Leave a Comments !
Nepal Bahas Trending