Global remittances could fall by $100 billion in 2020, says Citi
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LONDON (Reuters) - Slower economic growth expectations prompted Citi on Monday to slash its forecasts for global remittances, saying this raised the risk to credit ratings of smaller emerging market countries and was set to push up their borrowing costs.Remittances could fall by $100 billion (£80.12 billion) in the worse case scenario, Citi said in a note to clients, while more than doubling its base case for the scale of decline to $68 billion in 2020. In mid-April, it had estimated that the..