The coronavirus pandemic is leaving migrant workers unable to send money or goods home to families, cutting off a vital lifeline for communities already under siege from a barrage of external shocks.
Remittance flows to low and middle-income countries are projected to fall by almost 20% in 2020, one of the sharpest declines in history, according to the World Bank.
A number of major European countries have introduced furlough schemes to partially subsidize wages for those unable to work, but many of those in less formal employment have still found themselves without income. For workers in the U.S., there is less of a social safety net, which has led to more than 40 million Americans filing for unemployment since the pandemic was declared in mid-March.
Residents transfer money using the M-Pesa banking service at a store in Nairobi, Kenya, on Sunday, April 14, 2013.Even for those who have maintained the financial capability to transfer money, lockdown measures have impacted access to MTOs in receiving countries.
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