Remittances Investments: Brexit and Eba Countries

remittances investments: But simulations run by the German Development Institute, published this month, show that the impact could be disastrous also outside Europe, pushing millions of people in developing countries into extreme poverty, according to The Independent. Brexit could increase the population living in extreme poverty in EBA countries by nearly 1.7 million, the authors wrote. With the deadline to reach a Brexit agreement looming in March, much attention has been given to the effects it would have on the European and British economies. These are conservative estimates of Brexit's negative impacts; they do not take into account the additional implications of uncertainty, depreciation of the pound sterling, reduced aid spending, remittances and investments. With an impending Brexit, these vulnerable states will no longer have access to the UK market through EBA. If a hard Brexit the return to World Trade Organisation's rules of trade was to take place, the authors found Cambodia would be affected the most of all least-developed countries. Hard Brexiters say only acceptable way forward is to remove backstop Read more Under the Everything But Arms EBA agreement, 49 least-developed countries can export to the European Union tariff-free. (news.financializer.com). As reported in the news.