As mainstream media pundits like the Bloomberg economics editor Peter Coy tell Americans to “tune out the hyperinflation hype,” fund managers from a recent Bank of America survey who collectively manage $630 billion, believe inflation is the biggest risk to markets right now.
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Instead of a sharp decline in 2020 followed by an increase in 2021 that we predicted in April, we are now looking at a much more gradual fall extending into 2021. By the end of 2021, we expect remittances to fall by about 14% compared to the pre-Covid-19 record levels of 2019.
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