Viewpoint by Clemens Breisinger, Abla Abdel Latif, Mariam Raouf and Manfred Wiebelt
WASHINGTON, DC (IDN) – The economic impacts of the COVID-19 crisis are increasingly hitting low- and middle-income countries and the poor. International travel restrictions and the full or partial closure of businesses and industries in Asia, Europe, and North America have led to a collapse in global travel and are expected to reduce the flows of remittances. Tourism and remittances are important sources of employment and incomes for the poor, respectively. This post assesses the potential impacts of the expected reductions in these income flows by using Egypt as a case study.
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