Monday, 7 September 2009

Migrant remittances to fall 5-8 per cent in 2009, says UNCTAD

Bangkok/New Delhi - Migrant remittances are expected to fall 5 to 8 per cent this year after hitting a record-breaking 305 billion dollars in 2008, the United Nations predicted Monday.

Despite the global crisis, recorded remittances reached 305 billion dollars last year, up 8.8 per cent over 2007 figures, with India taking the lead at 45 billion dollars in money transferred home, up 27.6 per cent year-on-year, according to the annual report of the United Nation Conference on Trade and Development (UNCTAD). Read more

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