Coronavirus threatens Philippines’ ‘economic lifeline’ of OFW remittances

For decades, the Philippines has relied on its overseas Filipino workers, or OFWs, to drive economic growth and provide a cushion against financial crises with their remittances. Last year, an estimated 10 million OFWs sent about US$30 billion home – equating to nearly 8 per cent of the country’s GDP.

For years, Philippine governments have lauded OFWs as “heroes” for going abroad to work and enduring separation from their families.

But returning workers now face economic hardship upon their release from quarantine, and may not even be able to make it home amid the coronavirus lockdown of Metro Manila, which was recently extended until the end of the month.

See the full story at https://www.scmp.com/week-asia/economics/article/3084642/coronavirus-threatens-philippines-economic-lifeline-ofw

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