Remittances to Cambodia to plunge by millions of US dollars this year: ABD

Cambodia could lose more than 15 percent of its international remittances this year under the worst-case scenario because of the COVID-19 pandemic, according to a report by the Asian Development Bank (ADB).

Based on the country’s total remittances of 2.8 billion USD in 2019, more than 420 million USD will not be sent home in 2020 – mostly from Thailand – because hundreds of thousands of workers have returned home.

In its report on “COVID-19 Impact on International Migration, Remittance, and Recipient Households in Developing Asia”, the ADB said that the economic recession caused by COVID-19 threatens the job security and wellbeing of more than 91 million international migrants from Asia and the Pacific.

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