The Philippines ranked as fourth top recipient of overseas remittances in Asia, receiving $14.65 billion in 2006, a United Nations report showed.The report, released in time for the Oct 19 opening of the International Forum on Remittances in Washington DC, said the $14.65 billion remittances sent to the Philippines was based on "a conservative estimate.
"The amount includes the $12.8 billion remittances coursed through the banks, as reported by the Bangko Sentral ng Pilipinas, plus OFW earnings sent through informal channels such as door-to-door delivery. [Read more]
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