Economic crisis will affect workers remittances to India, Bangladesh

ashington, Dec 8 (ANI): The global economic crisis will cause a sharp drop next year in worker remittances -- a major source of income for developing countries like India, Bangladesh, Mexico and Philippines, labour specialists have said.


Ryszard Cholewinski, a labor specialist at the International Organization for Migration (IOM), said the fall will heavily affect countries including Mexico, India, Bangladesh and the Philippines.

The flow of remittances to developing nations - currently about 283 billion doolar could decline by up to 9 percent because of the global slowdown; The Washington Times quoted him, as saying. Read more