Remittances from Dominicans nosedive 21% to US$520.1M
Santo Domingo.- The effects of COVID-19 on the economy are still being felt in the country. At the end of March, the family remittances received by the country nosedived 21% compared to the same month last year.
According to data published this week by Dominican Republic’s Central Bank, US$520.1 million were received from abroad last March, or US$145 million fewer than a year ago, when US$665.5 million arrived in March 2019.
The accelerated elimination of jobs caused by measures to halt the pandemic in the US has led to a fall in remittances in the Dominican Republic and other LatAm countries.