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As coronavirus upends livelihoods, will record transfers cause a remittance crash in Asia?

Migrant workers from Asia’s developing countries have managed to send home record amounts of money in recent months, defying pandemic expectations and propping up home economies at a critical time.Remittance doomsayers see something else in the larger than usual transfers: a coming crash, triggered by a bleak job market, particularly in the Middle East. As they see opportunity drying up along with demand for oil, workers are sending money home in advance of their own return.The Philippines…

Read the original article at South China Morning Post

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