Reasons for optimism in remittances to Latin America and the Caribbean?
In April of last year, a variety of analysts announced the potential for a decline of over 20% in global remittances as a result of the pandemic. The anticipated losses of employment for the closure of businesses, as well as the closure of many of the businesses where migrants sent money and where their families received it, would have had a negative impact on remittances. If this prediction had come true, the families of migrants would have been dramatically impacted in a period in which the pandemic also was hitting the economies of the remittance receiving countries.