"Remittances fall by 110 billion in 2020"

NEW YORK: Global ratings agency Moody's has released a report on remittances, saying remittances fell by 110 110 billion in 2020.

According to the report, remittances due to corona virus have decreased in the world. Decrease in remittances will increase economic problems. Moody's report says that growth rate will be affected in many countries. ۔

The report further said that low remittances would affect the remittance accounts, reduction in remittances could lead to difficulties in payments, according to the report, global remittances in 2019 were 55 554 billion, remittances decreased by 110 110 billion in 2020.