Are the Remittance Flows another Casualty of COVID-19? The Macroeconomic Consequences of Remittances: The Impact of COVID-19

March 4, 2021 at 14:00-15:30 Vienna time (CET)

Introduction
Mr. Hervé Joly, Director, Joint Vienna Institute
Mr. Norbert Funke, Coordinator, IMF Regional Capacity Development Center for the Caucasus, Central Asia, and Mongolia (CCAMTAC)

Presenters
Mr. Ralph Chami, Assistant Director, Institute for Capacity Development, International Monetary Fund
Mr. Connel Fullenkamp, Professor, Duke University
Mr. Tigran Poghosyan, IMF Resident Representative in the Kyrgyz Republic

Moderator
Mr. Holger Flörkemeier, Deputy Director, Joint Vienna Institute

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. 

This webinar is a joint event of JVI and CCAMTAC, the IMF’s new regional capacity development center for the Caucasus and Central Asia. For more information about CCAMTAC please see the January 2020 JVI Newsletter

The webinar will be held in English, with simultaneous interpretation into Russian.

Participants are encouraged to ask written questions to the presenters using the webinar’s chat forum.

To participate in the webinar please sign up here.

A list of JVI webinars on topical issues in the field of financial stability, fiscal policy, and macroeconomics can be found here.

The schedule of JVI courses—including virtual courses—can be found here.

We look forward to continuing our engagement with you!

Hervé Joly, Director (JVI)

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