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Global drop in remittances could threaten economic recovery of developing countries


This includes countries such as Kyrgyzstan, Nepal, Pakistan and Tajikistan, where remittances accounted for at least 40 per cent of current account credits even before the outbreak of the pandemic, it added.
For poor countries, a significant drop in remittances represents bad news on top of an already challenging economic and social situation, the EIU said.
In October, the World Bank said global remittances would fall 14 per cent by 2021 compared with pre-Covid-19 levels in 2019. The Washington-based lender projected global remittances would decline 7 per cent to $508 billion in 2020 and 7.5 per cent to $470bn in 2021. Remittances fell about 5 per cent following the 2008 global financial crisis. ....

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Duke Energy Center and African American Cultural Festival Announce Partnership and Virtual Black History Month Program


Duke Energy Center and African American Cultural Festival Announce Partnership and Virtual Black History Month Program
The events will focus on bringing the community together while honoring African American culture and heritage.by BWW News Desk
Duke Energy Center for the Performing Arts and the African American Cultural Festival of Raleigh and Wake County (AACF) announce their new annual partnership which will feature four co-produced events. The events will focus on bringing the community together while honoring African American culture and heritage.
We re proud to continue to partner with the African American Cultural Festival of Raleigh and Wake County to celebrate African American heritage, said Michelle Bradley, Duke Energy Center s Interim Assistant GM. ....

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