COVID-19: UNECA says remittances to Africa shrinks by $18billion

UNECA logo symbolizing united nations economic for africa

The United Nations Economic Commission for Africa (UNECA) has said that COVID-19 pandemic is likely to cost the African continent $18 billion in remittances. A new report launched by UNECA on Wednesday, entitled “Preserving Remittances in the Time of COVID-19”, highlighted the “severe impact” that the global COVID-19 pandemic has had on remittance inflows to Africa, mainly due to the situation of migrants in most affected countries. The report was launched by UNECA, in partnership with the anti-poverty organization ONE. The report noted that remittances have steadily increased over the…

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