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Remittance flows
Koreans Take More Money Out of the Country
Monday, 15 March 2010 13:41
Source: The Chosun Ilbo
Koreans are transferring more assets overseas and repatriating less money.
According to international balance of payments statistics released by the Bank of Korea on Sunday, the amount Koreans transferred overseas in January increased 4.2 times from US$31 million to $130.6 million on-year.
RP dependence on OFW earnings leads to jobless growth
Monday, 15 March 2010 09:59
Source: Philippine Daily Inquirer
By Jerome Aning
Awash with dollars from US$18 billion (more than P821 billion) a year in remittances from overseas Filipino workers a year, the Philippine economy could be now afflicted with the “Dutch disease,” an economic malady that sees the decline of local industries, fuels an overvalued peso, makes exports costly and imports cheap, and results in jobless growth, according to recruiters.
Lito Soriano, executive director of the Federated Association of Manpower Exporters, issued the warning in a recent forum on the strong peso and what must be done on the peso-dollar exchange rate concerns of overseas Filipino workers.
Read more: RP dependence on OFW earnings leads to jobless growth
January remittance growth likely to top 6%, says BSP chief
Saturday, 13 March 2010 10:23
Source: BusinessWorld online
JANUARY REMITTANCE growth likely topped the full-year forecast as demand for skilled workers has risen in line with a global economic rebound, the Bangko Sentral ng Pilipinas (BSP) chief said on Friday.
"This year we are projecting 6% [growth] for the whole year, but [based on] the initial data I have seen it looks like the figure for January could be in excess of the projection for the year," central bank Governor Amando M. Tetangco, Jr. told reporters at the sidelines of a Chamber of Thrift Bank forum on Friday.
Read more: January remittance growth likely to top 6%, says BSP chief
Remittance to Pakistan Jumps Almost 18 Percent, Over 19 Percent In Bangladesh
Friday, 12 March 2010 14:25
Source: All Headline NewsPakistanis working abroad sent home a record US$5.78 billion in the first eight months of the current fiscal, marking a nearly 18 percent growth over the same period last year.
The remittances from Pakistani nationals working abroad were estimated at $588.89 million in February, a fall of $8.2 percent from the corresponding period of the previous fiscal year, according to central bank statistics released Wednesday.
Read more: Remittance to Pakistan Jumps Almost 18 Percent, Over 19 Percent In Bangladesh
Pakistan: Remittances decline by 8.19 percent in February
Friday, 12 March 2010 09:29
Source: Daily Times
The remittances sent by overseas Pakistani declined by 8.19 percent or $52.44 million in February 2010, as the central bank has received an amount of $588.78 million, compared with $641.32 million in February 2009.
However, the remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of $5.787 billion was received in July-February 2009-10, showing an increase of $868.26 million or 17.65 percent over the same period of the last fiscal year. The amount of $5.787 billion includes $1.0 million received through encashment and profit earned on Foreign Exchange Bearer Certificates (FEBCs) and Foreign Currency Bearer Certificates (FCBCs).
Read more: Pakistan: Remittances decline by 8.19 percent in February
Remittances jump by 17.6pc in July-Feb
Thursday, 11 March 2010 10:10
Source: Dawn.com
By Elahe Izadi
Pakistan received 17.6 per cent higher remittances during the first eight months of the current fiscal year compared to the same period last year.
The latest figures of remittances issued by the State Bank on Wednesday showed that despite higher average remittances during the eight months, the decline was also visible on month-to-month comparison.
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