2 hours agoPandemia effect falls income from immigration in Albania
Periskopi(6 years ago)
(6 years ago)The amount of money sent by immigrants working outside Albania to their homeland is expected to drop by nearly $110 billion this year, as COVID-19's pandemic has increased unemployment worldwide. In its latest report, the World Bank suggested that the money sent to the countries [...]
The amount of money sent by immigrants working outside Albania to their homeland is expected to drop by nearly $110 billion this year, as COVID-19's pandemic has increased unemployment worldwide.
In its latest report, the World Bank suggested that the money sent to low- and medium-income countries is projected to drop by around 20% to $445 billion, “representing a loss that for some families is vital, especially in this period”.
This, according to the World Bank, is the worst landing in history, even worse than the 2008 financial crisis.
The Washington-based development bank said immigrant workers were particularly the most fragile category to lose their work during the closure due to the coronavirus pandemic.
Migrants usually send money to families in some of the poorest parts of the world, including South Asia and South America, to raise the living standards of their loved ones.
Eastern Europe is especially expected to be one of the most hit regions, as immigrant workers in Western Europe and Russia are forced to lower the amount of money they send to the family, such as in Romania, Bulgaria, Ukraine and other countries.
This situation could no doubt have affected Albanians who have emigrated abroad and sent money to their families in our country.
