Venezuela’s Dollar Lifeline at Risk From Anti-Virus Lockdown
- Remittances helped families survive catastrophic depression
- Venezuelan migrants sent nearly $4 billion home last year
This article is for subscribers only.
Business closures and lockdowns in the U.S., Europe and Latin America are putting at risk billions of dollars in remittances on which Venezuela’s economy depends.
Venezuelan families get nearly $4 billion per year from relatives abroad, but that figure is projected to slump as migrants lose their jobs amid the coronavirus pandemic. That would bring additional misery to a country that has also been hit by a crash in crude prices as well as its own outbreak of the virus.