Pakistan - Snapshot of Remittance Inflows to Pakistan during COVID-19

17 May 2022 Pakistan Download

Remittances sent by millions of Pakistani migrants worldwide have supported the country’s economy by improving livelihoods and easing the pressure at times of economic crisis, such as energy crises, food insecurity and higher foreign debt repayments (Ahmed, 2021). Remittances are the second largest source of foreign exchange in the country, making Pakistani emigrants crucial actors in the balance of the payment deficit (Khan et al., 2021). The country is among the top recipients of remittances globally (World Bank, 2021). Recent studies showed that remittance inflows to Pakistan proved resilient during the COVID-19 pandemic, defying all predictions (IOM, 2021).