Africa/Europe | Survey on remittance practices in times of crisis
The COVID-related pandemic could result in a lasting economic crisis worldwide, coupled with a possible food crisis in Africa. At the same time, remittances, which traditionally play a counter-cyclical, social cushioning role, are also under threat.
The World Bank estimates a possible 23% drop in remittances to Africa. To better measure the current difficulties of the senders, and the impact of the crisis on their situation and practices, Red Mangrove conducted for the IFAD a vast survey from 1 to 17 May 2020, with more than 250 nationals of the diaspora in Europe interviewed. The survey highlighted how some manage to maintain or increase their remittances, and explained the decreases or drop in remittances of others. Among these explanations, it is important to distinguish financial reasons (impact on income, savings, borrowing, etc.) from practical reasons (branch closures and difficulties in using digital solutions).
Migration