Corona causes Yemen’s money transfers to decline by 80%: Oxfam

SANAA, July 9 (YPA) – The International “Oxfam” Organization confirmed on Thursday that the remittances of Yemenis abroad decreased by 80 percent in the first four months of this year.

“The value of remittances in Yemen decreased by $253 million dollars in the first four months of 2020, due to the economic consequences of the Corona virus,” the organization said in a report.

The report pointed out that the average remittances of Yemenis abroad amounted to $431 million dollars a month during the year 2019, according to the data of the Yemeni economic studies and forecasts sector.

It is noteworthy that the international Oxfam had warned in an earlier report late last June of an unprecedented decline in remittances to Yemen because of the layoffs and salary cuts affecting Yemeni workers in Saudi Arabia.

YPA