Global remittance transfers by migrant workers are set to drop globally this year, raising credit risk in countries most dependent on such inflows, says a new report by Moody’s Investors Service.
“The countries that are most dependent on remittances are largely low- and middle-income economies, and we expect the decline in remittance will exacerbate the growth slowdown in these countries,” commented Moody’s senior vice-president Christian de Guzman .
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