Money sent home by overseas Filipino workers (OFWs) further went down in March and April as the coronavirus disease 2019 (Covid-19) crisis forced many countries to implement lockdowns, causing many workers to stay home, an analyst from Rizal Commercial Banking Corp. (RCBC) said.
In a commentary over the weekend, RCBC chief economist Michael Ricafort said OFW remittances contracted in March and April after falling to an eight-month low in February.
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