Coronavirus Disease (COVID-19) and Migrant Remittances

Based on World Bank projections, the Economic Commission for Africa (ECA) projects that remittance inflows to Africa could decline by 21 percent in 2020, implying $18 billion less will go to the people who rely on that money. It is therefore critical to preserve this essential lifeline. As the world enters an economic downturn, remittance flows will be more important than ever for the poorest and most vulnerable people, in particular those without access to economic and social safety nets. Governments across the world should take effective action to facilitate and boost remittances in view of supporting the fight against COVID-19 and ultimately building a more sustainable post-pandemic world.

Against this backdrop, this research analyzes the impact of the COVID-19 pandemic globally and in Africa, and explores ways to attenuate the socio-economic consequences and preserve remittance lifeline.