Collapse of world remittances 5 13 20

The World Bank expects global remittances to low and middle income countries to decline by 20% in 2020 due to the pandemic. In 2019 they were $553 billion, and are expected be $445 billion this year.

Pew Research, using World Bank data estimates that remittances sent from the U.S. in 2017 were $148 billion. The U.S. government spends about $50 billion in foreign aid per year.

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