Global Remittances and COVID-19: Locked Down but Not Locked Out

In: Global perspectives: GP, Band 2, Heft 1

Abstract

What happens to remittances, an important feature of the global financial system, when a pandemic strikes? Despite early predictions of significant drops in volumes, flows have been affected less than expected. This commentary explains that this outcome is attributable in part to a renewed focus on the infrastructure of global finance and an accelerated development and use of digital solutions, but that it is mostly a result of the individual efforts and resilience of migrants.