WNAM MONITORING0: Around $1.7 billion in airline revenues were blocked from repatriation by governments in October, a slight decrease from $1.8 billion in April, the International Air Transport Association (IATA) reported on Monday.
While Pakistan, Bangladesh, Algeria, and Ethiopia recorded significant reductions in blocked funds, new challenges have arisen in Mozambique, Bolivia, and the West African currency zones (XAF and XOF).
Nine countries account for 83% of the blocked funds, totaling $1.43 billion, according to the report.
IATA Director General Willie Walsh warned that these barriers threaten aviation connectivity and economic growth.
“This unfortunate game of ‘whack-a-mole’ is unacceptable. Governments must remove all barriers for airlines to repatriate their revenues from ticket sales and other activities in accordance with international agreements and treaty obligations,” Walsh said.
