ABSTRACT

Severing a Lifeline: How the Coronavirus Pandemic Threatens Remittances to Venezuela   [open pdf - 22MB]

From the Document: "Over 5 million people have fled Venezuela to escape its political turmoil, unstable economy, and ongoing humanitarian crisis. Remittances serve as a crucial lifeline to family members back home; they have become Venezuela's second largest legal source of foreign income after oil and constitute a key driver of local consumption. It is estimated that over two million households in Venezuela, approximately one third of all homes in the country, receive remittances from family members working abroad. [...] However, recent estimates by the World Bank suggest that the global coronavirus pandemic threatens to cut annual remittances to Latin America overall by more than 19 percent."

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Date:
2020-08
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Copyright:
Wilson Center Latin American Program. Posted here with permission. Documents are for personal use only and not for commercial profit.
Retrieved From:
Wilson Center: https://www.wilsoncenter.org/
Format:
pdf
Media Type:
application/pdf
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