Strong remittances and subdued imports should help Sri Lanka to service its July Eurobond maturity, said Tellimer economist Patrick Curran. This should support global remittances,” said Farouk Soussa, senior economist at Goldman Sachs. That be bad news for countries that rely on transfers from the Gulf, such as Bangladesh, Philippines, Egypt and Lebanon. Lebanon’s financial crisis and dwindling economy mean remittances are seen rising to more than a third of GDP in 2020. One hope is a recovery in exports and tourism, the other big money maker and hard currency source for emerging economies.

Source: bd News24 December 22, 2020 01:30 UTC