Wednesday, 9 February 2011
West Asia crisis may slow remittances in near term
Region accounts for 48 per cent of the total inflows into India.
Remittances to India, especially from the West Asian countries, may decelerate in the near-term as the region continues to witness political turmoil following mass uprising against the governments in Tunisia and Egypt.
The Jasmine Revolution in Tunisia, which capsized the local government a few weeks back, saw popular uprising against unemployment and corruption.
This was followed by riots in Egypt, which, according to the United Nations, have left as many as 300 people dead. Protests were also witnessed in Jordan and Yemen. Read more