The consequences of lockdowns in wealthier countries are also felt much further away. That's because migrants who normally send money back to families in their home-countries have less work and thus less to send. These remittances, as they're called, are no small-sum: They amounted to more than 0.5 Trillion US-Dollars worldwide in 2019. That amount shrank noticeably last year, as lockdowns sank-in again, limiting migrant-work. The World Bank believes this year will see even less money sent home. That could mean more families falling into poverty in places like Sub-Saharan Africa. Remittances there totaled 48 Billion dollars in 2019. Nearly half of that -- roughly 21 Billion Dollars -- went to Nigeria alone.
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch
#Remittances