The US ratings agency Fitch has said that remittances to Pakistan and other Asian countries will continue to be depressed due to the Corona virus epidemic and the global economic slowdown, and the current account deficit will increase.
According to the international media, the US rating agency Fitch says that remittances in Pakistan, India, Bangladesh and Sri Lanka will continue to be under pressure, remittances from Asia-Pacific countries will decrease by 12% in the current half year. Fitch Ratings says the current account deficits of the Philippines, Pakistan, Sri Lanka and Bangladesh are likely to widen, with the current account deficits of Pakistan, Sri Lanka and Bangladesh expected to be 7 to 10 percent of GDP. Earlier, the Asian Development Bank (ADB) had said in a report that the Corona virus had led to an increase in unemployment in Pakistan, with 1.5 million young people losing their jobs in three months. The report feared that more than 2.2 million young people could be unemployed in six months.
