Which EMs would suffer from a drop in remittances?

Remittances held up well during the Global Financial Crisis but the scale (and type) of job losses in the current crisis mean that they are likely to fall sharply in the coming months. A drop in remittances would dampen economic recoveries in the likes of the Philippines and Egypt, and have altogether more malign consequences for EMs already suffering from the collapse in oil prices – notably Nigeria and Ghana.