The Impact of COVID-19 Pandemic on the Inflow of Remittances: Perspective of Bangladesh

Abstract

This paper evaluates the impact of COVID-19 pandemic on the inflow of remittances in Bangladesh. A Tableau dashboard is designed on total remittance received and COVID-19 confirmed cases along with the death of remitter countries for January and February of 2020. This pandemic has already been declined remittance inflow. Scenario analysis is calculated on remittances of 2018-19 to represent the inflow of remittance for evaluating the impact of COVID-19 on the economy of Bangladesh for short, medium, and long term. Currently, the remitter countries are locked down, closed the businesses, made the people jobless. This study indicates the negative effect of COVID-19 on remittance inflow, ultimately on GDP growth.

Note: Funding: None to declare

Declaration of Interest: None to declare

Keywords: COVID-19, Remittances, Pandemic, Lockdown, GDP

JEL Classification: J00, J01, J15, J21, J22, J23, J61