Friday, 30 January 2009

Developing countries to see resilient remittance flow in 2009

NEW DELHI: Notwithstanding the global economic slump, developing economies including India are expected to witness steady flow of remittance this

year, even as private flows are expected to fall by 40-50 per cent, a lead economist World Bank says.

"Remittance flows to developing countries are expected to remain resilient compared to private flows which are expected to fall by 40-50 percent in 2009," World Bank lead economist Dilip Ratha said in a blog posting on the World Bank website.

Although new flow of migrants are falling, remittances are persistent over time. As per the latest World Bank data, the migrant stocks are not getting affected.

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