Daily Star staff
Monday, December 15, 2008
BEIRUT: In its first update on the inflow of remittances to developing countries since the outbreak of the global financial crisis, the World Bank estimated remittance inflows to Lebanon at $6 billion in 2008, constituting an increase of 4 percent from 2007, according to a report in Lebanon This Week, the economic publication of the Byblos Bank Group.
Lebanon's remittances stood at $5.77 billion in 2007, $5.2 billion in 2006 and $4.9 billion in 2005, according to the report.
Globally, Lebanon was the 18th largest recipient of remittances in 2008, ranking ahead of Vietnam, Serbia and Montenegro and Ukraine, and coming immediately behind Indonesia, Morocco and Pakistan. Read more
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