The 34% growth in remittances to the country in 2008, when the financial crisis broke, reflects this reliability. But the outbreak of covid-19 and the various degrees of lockdowns across the globe is threatening this flow now.

World Bank estimates that globally, remittances will shrink by 20% in 2020. India, the biggest receiver of remittances, could witness a 23% slump.

The bulk of the remittances are towards the upkeep of the family back home, while some are towards financial investment. In 2019, remittances were estimated to have totalled $83.1 billion, or 2.8% of gross domestic product,

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Ben Affleck & Ana de Armas Do Their Daily Morning Dog Walk

Ben Affleck and Ana de Armas step out together for a bit of fresh air on Tuesday morning (April 28) in Brentwood, Calif.

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Jason Mraz 'Won't Give Up' on His Green Screen For Vivid Billboard Live At-Home Performance

Jason Mraz pulled out all the visual effects for his Billboard Live At-Home performance Tuesday (April 28) to raise money for the National Coalition for the Homeless.

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Taylor Swift fans think she just teased major announcement

Taylor Swift is less than two weeks away from a major announcement… if you believe her rabid fan base.

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How We Work Now: Atlantic Records Executive VP Urban Promotion Juliette Jones

In a new series amid the coronavirus pandemic, Billboard is asking individuals from all sectors of the music business to share stories of how they work now, with much of the world quarantined at home and unable to take in-person meetings, attend conferences or even go into the office. Submissions for the series can be sent to [email protected].

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Charlie Lexton Named Merlin's Chief Operating Officer, Lays Out New Priorities

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AEG, Live Nation, Broadway, More Sign Letter Requesting Federal Aid For Concerts and Events

A coalition of the top concert promoters, venue managers and show producers have joined forces to request federal aid for the live entertainment industry as it faces an existential crisis from the COVID-19 pandemic.Billboard obtained a copy of the memo, which calls on Congress to expand the Paycheck Protection Act to entertainment companies with 500 or fewer employees, as well as an expansion of loans to mid-sized businesses under the CARES Act and the Federal Reserve’s Main Street Lending program."Our businesses were the first to close and will be the last to reopen," reads the memo, dated April 2020, which lists 19 organizations as signatories including AEG, Live Nation and The Broadway League.

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Bandcamp Will Waive Revenue Sharing On First Friday of May, June & July to Support Artists

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Relaxing alcohol licensing laws during pandemic under discussion in Scottish Government

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I’m A Celebrity is set to return this year despite coronavirus as top celebrities meet bosses over Zoom

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The Sweden factor that gives SPFL hope amid Ligue 1 finish and FIFA expert's doomsday prediction

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UN calls for safety net to stop people sliding into poverty

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Lockdown: Govt relaxes 'work from home' connectivity norms for IT, BPO firms till July-end

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Shahs of Sunset's Golnesa "GG" Gharachedaghi Gives Birth to Baby Boy

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Arsenal's stance on Mesut Ozil contract renewal after he refused pay cut

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Gemma Atkinson strips to bra to flaunt curves as she lets out 'COVID-iot anger'

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Belgians urged to double down on fries, do national duty

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Usa France city Brussels Belgium virus 2020 pandemic Coronavirus

Gloomy summer looms as pandemic cancels US festivals, trips

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Page 3 babe Danielle Mason 'drinking a bottle of wine a day' due to lockdown anxiety

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Kim Kardashian - Ashley Graham - Alessandra Ambrosio - Diane Von-Furstenberg - Virgil Abloh - Hailey Bieber - Adriana Lima - Alexander Wang - Kim Kardashian, Hailey Bieber And More To Take Part In Virtual Fashion Show To Raise Money For COVID-19 Relief Fund - etcanada.com - city Lima

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Storybooks, radio connect kids isolated in far-flung Alaska

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Covid-19 pandemic poses a threat to India’s steady flow of remittances

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