The slowdown in remittance flows that became evident in the last quarter of 2008 continued into the first half 2009, therefore posing more threat to top recipient countries.
Not a few economic watchers have come to realise the implication of declining remittance flows to recipient countries, advising on the need to put in place policies that would cushion the effect of the projected decline.
After the latest data revisions for 2008, India, China and Mexico, retain their position as the top recipients of migrant remittances among developing countries. Other top 10 remittance recipients include Nigeria, Philippines, Poland, Romania, Egypt, Bangladesh, and Vietnam. In contrast, the top recipients in terms of the share of remittances in Gross Domestic Product (GDP) include many smaller economies such as Tajikistan, Tonga, Moldova, Lesotho, and Guyana. Read more
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