Tuesday, October 23, 2007
BIZZ FIZZ By Rene Martel
NOT wasting any time on the back of the comforting economic news that the Philippines has emerged as the world’s fourth-biggest receiver of money sent home by migrant workers who are now officially classified by the government as modern day heroes, Sen. Loren Legarda is asking that Malacañang look into the possibility of initiating legislature to bring down the excessive remittance charges made by rapacious banks that are the conduit of these mostly dollar-denominated billions.
The report—by the United Nations’ International Fund for Agricultural Development (IFAD) and released at last week’s International Forum on Remittances in Washington D.C.—noted that that based on “a conservative estimate,” migrant workers remitted to the Philippines a total of $14.6 billion in 2006 alone. [Read more]
No comments:
Post a Comment