Monday, 5 January 2009

PHILIPPINES: BSP sees remittances growing to $18b

The Bangko Sentral expects remittances this year to grow around 6 percent to $17.9 billion despite the slowdown in the global economy.

Central bank sources said Filipinos working abroad were expected to send home $17.3 billion through the banking system. Remittances in 2008 likely grew 15 percent to a little over $16 billion. About eight million Filipinos work abroad. Read More

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