Remittances — when people send money internationally to family and friends, or as a payment — has long been one of the most important levers for getting funds to people in developing economies. However, the persistent spread of the coronavirus is having a tough impact on that, with the World Bank estimating that remittances to low and middle-income countries will fall 20% this year to $445 billion (down a record $554 billion in 2019). That’s due in part to the economic slowdown (and job and wage loss) in sending countries, and in…
