Tuesday, 24 March 2009

W.Bank sees fall in 2009 remittances to poor nations

MANILA (Reuters) - Remittance flows to developing countries are likely to fall 5 to 8 percent this year, a reversal from an estimated growth of 8.8 percent in 2008, based on the latest remittance outlook by a technical group of the World Bank.

The latest outlook, released on Monday, was bleaker than the previous forecast of 0.9 to 5.7 percent decline in remittance flows made by the same technical group in November. Read more

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