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Remittances track 25% lower in blow to emerging economies

Philippines among nations hit hard by virus-related job losses abroad

Some 10 million Filipinos, or a tenth of the population, work in the U.S. or elsewhere.   © Reuters

MANILA/MEXICO CITY -- Remittances to emerging nations are projected to fall 25% this year as laborers abroad lose work to the pandemic, slamming their economies.

"I have to survive on rations of rice and canned food," a 54-year-old Manila resident said. His eldest son, working in construction in Saudi Arabia, used to send him about 10,000 pesos ($200) a month to cover food expenses. But the remittances have almost completely stopped.

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