Remittances continue to grow

The global economic crisis has led to dire predictions of a dramatic fall off in Migrant Workers Remittances. Just how true is this? Looking at the news reports coming in from across the globe it does seem that while there was indeed a fall-off especially at the end of 2008 and early 2009, all signs now seem to point to continuing healthy flows of these funds.

According to the state-run “Land Bank of the Philippines” remittances may grow by as much as 3.1% this year as overseas Filipino workers (OFWs) are expected to send more money to their families this semester as the holiday season nears. Read all the details at http://www.bworldonline.com/BW083109/content.php?id=053