Thursday, 3 September 2009

Immigrant Remittances Hit Hard by Downturn

Immigrants' remittances to their home countries have dropped significantly due to the economic slowdown. Cash sent to relatives is a crucial source of income for many developing countries, so the drop-off in payments can have drastic effects. However funds sent from Finland are unlikely to play a decisive role in any other state.
Zenaida Aglipay, a Filipino who lives in Vantaa, just north of Helsinki, has worked in Finland for a couple of years. Every month she sends money home to her mother.

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