Remittances to African countries are expected to decrease by 5.4 percent from $44 billion in 2020 to a projected total of $41 billion in 2021, due to the effects of Covid 19 pandemic, according to findings of Continental Migration Report 2021.
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BY ANDUALEM SISAY GESSESSE – The Government of Ethiopia urged its diaspora community to use the formal and legal banking and money transfer system while sending remittances to their families.
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Recent data from the May Migration and Development Brief shows that remittance flows to Uganda declined by 26 per cent, from US$1.4 billion in 2019 to US$1.1 billion in 2020.
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The United Nations today warned that the devastating socio-economic impact of the COVID-19 pandemic will be felt for years to come unless smart investments in economic, societal and climate resilience ensure a robust and sustainable recovery of the global economy.
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