Coronavirus threatens Philippines’ ‘economic lifeline’ of OFW remittances

A flotilla of 17 cruise ships arriving in Manila Bay would normally gladden the hearts of Philippine officials, but not when they are filled with thousands of Filipinos who have lost their jobs abroad because of the coronavirus pandemic. For decades, the Philippines has relied on its overseas Filipino workers, or OFWs, to drive economic growth and provide a cushion against financial crises with their remittances. Last year, an estimated 10 million OFWs sent about US$30 billion home – equating…

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