Remittances – an essential lifeline for 150 million families in the developing countries – posted an unexpected increase in some regions, including Latin America and Caribbean, during the pandemic and 2020 recession. As domestic consumption, trade and tourism declined worldwide, remittances in many countries were the single positive macro-economic indicator of 2020. Leveraging these flows for economic growth takes on greater relevance in already fragile countries most affected by the pandemic. The panel will address their effect on economic growth, digital finance and its relevance in 2021 as the world moves towards recovery.
The event is co-organized by the Creative’s Center for migration and economic stabilization and the International Fund for Agricultural Development (IFAD), and it contributes to the ongoing virtual series of the Global Forum on Remittances, Investment and Development (eGFRID) dedicated to address remittances in times of crisis.
Moderator: Leon Isaacs, CEO, DMA Global