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.

Read more: Remittances jump by 17.6pc in July-Feb

Salvadoran communities feel sting of recession's deep cuts

Thursday, 11 March 2010 09:59

In this small eastern Salvadoran town, new luxury homes tower over the one-story brick, cement and wooden structures that once predominated. On one block, a three-story mansion with a hot tub sits next door to a humble brick home with an outhouse.

Many of the homes were built with money sent by former townspeople who immigrated to the United States, people who settled mostly in Montgomery and Prince George's counties, Washington, D.C., and Northern Virginia.

Read more: Salvadoran communities feel sting of recession's deep cuts

Ecuador: Remittances Fall

Wednesday, 10 March 2010 11:23

Source: Poder 360

Banco Central reported that remittances from Ecuadoran migrants sent back to the country shrank 11.6% in 2009

According to a report by Banco Central, remittances Ecuadorans send their families in the country totalled $2,495 million in 2009, compared with $2,822 million in 2008, representing an 11.6% decrease. The central bank specified that "it's the first time that remittances shrank in relation to a previous year since we've begun analyzing their flow in 2000. Up till 2009, the average annual growth was 17%, although it began slowing in 2006, dropping considerably beginning in 2008 when the world economic crisis affected the employment levels and the incomes of migrants in countries such as the U.S., Spain and Japan."

Remittance growth may see decline

Wednesday, 10 March 2010 10:31

Source: The Kathmandu Post

Nepal is unlikely to see the robust growth from remittances in the near future. This has been revealed by the International Monetary Fund (IMF)'s Consultation Mission on Sunday. The IMF's Mission has also suggested the government to make policy changes in view of slowdown in remittances. "The remittance growth is expected to slow down and the economy will need to adapt," states IMF's Mission's report on 'Remittances in Nepal and South Asia'. "The government should focus on policies for domestic growth," said Laura Papi, Mission chief. "It should give more attention to structural issues like power, labour relation and infrastructure."

Read more: Remittance growth may see decline

SL eyes professionals’ remittances to boost forex earnings

Wednesday, 10 March 2010 10:23

Source: Lanka Times