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Remittance to Nepal may drop to $7.4 billion in 2020, World Bank says

Nepali migrant workers are expected to send home only $7.4 billion in 2020, down 12 percent from pre-coronavirus levels in 2019, the World Bank said in its latest estimates

Oct 31, 2020
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Nepali migrant workers are expected to send home only $7.4 billion in 2020, down 12 percent from pre-coronavirus levels in 2019, the World Bank said in its latest estimates.

Nepal’s central bank was more upbeat, saying that the World Bank had been conservative in its assumption, and that there would be no contraction in remittance this year. In 2019, Nepali expatriates sent back $8.2 billion to their families.

The virus‐related global slowdown and travel restrictions will also affect migratory movements, and this is likely to keep remittances subdued even in 2021, according to the World Bank’s Migration and Development Brief released on Thursday.

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