MIAMI (AP) — The devastation wrought by COVID-19 across the developed world in cutting into the financial lifelines for people in Latin America, Africa and Asia. The World Bank estimates that a record $529 billion was transferred to developing countries through official channels in 2018. Billions more moved unrecorded in cash. Many of those remittances are sent home by people who work in jobs worst affected by the global downtown. With coronavirus shutting down industries, many earners can no longer afford to send their monthly $50, $100 or $200 to Honduras, Somalia or India. The shock waves are pushing their relatives to desperation.
