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COVID-19 Hits Remittances To Vietnam

Source: Vietnam Plus

Overseas remittances are expected to fall short of the target this year due to the economic crisis caused by the COVID-19 pandemic and shutdowns around the world.

Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam’s Ho Chi Minh City Branch, said in the first seven months of the year total remittances to the city, usually the largest recipient in the country, were down 1.2 percent year-on-year to 3 billion USD.