Public Management(Ecofin Agency) - Remittances to sub-Saharan Africa are forecasted to drop to $44 billion this year, down 9% compared to 2019. This prediction by the World Bank is attributed to the pandemic currently hitting global economic activity. This situation could, according to the World Bank, exacerbate food insecurity and poverty in this part of Africa where remittances play a crucial role in the economic and social sectors. Countries such as Kenya have remained on a positive trend so far, although the World Bank estimates that flows are expected to eventually decline in 2021. In North Africa, remittances to Egypt also performed well despite the crisis, with Egyptian workers abroad increasing one-time transfers to their families back home.

Source: The North Africa Journal November 03, 2020 15:00 UTC