Are the Remittance Flows Another Casualty of COVID-19? The Macroeconomic Consequences of Remittances: The Impact of COVID-19
RFAC
March 4, 2021 at 14:00-15:30 Vienna time (CET)
Introduction
Hervé Joly, JVI Director
Presenter
Ralph Chami, Assistant Director, Institute for Capacity Development, International Monetary Fund
Connel Fullenkamp, Professor, Duke University
Tigran Poghosyan, IMF Resident Representative in the Kyrgyz Republic
Moderator
Holger Flörkemeier, JVI Deputy Director
Target Audience:
Officials involved in analyzing and forecasting remittance and their effects on social and economic outcomes
The COVID-19 pandemic is crippling the economies of rich and poor countries alike. For many low-income and fragile states, the loss of remittances—money sent home by migrant and guest workers employed in foreign countries-will exacerbate the shock. They represent a lifeline that supports households and a steady source of much-needed demand and tax revenue. As of 2018, remittance flows to fragile and vulnerable countries alone reached $350 billion, surpassing foreign direct investment, portfolio investment, and foreign aid as the single most important source of income from abroad. The webinar will discuss the risks and implications of a drop in remittances on economic, fiscal, and social outcomes. The session includes an interactive Q and A session with the presenters.
The webinar will be held in English, with simultaneous translation into Russian.
We look forward to continuing our engagement with you!
Hervé Joly, Director (JVI)
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