Tag page - Remittances

WASHINGTON (AFP) - Developing countries are suffering a drop a key source of revenue as the coronavirus pandemic causes worldwide shutdowns, reducing payments from workers living abroad, the World Bank said. A new report estimates remittances to low- and middle-income countries are expected to fall...

COVID-19 impact milder than expected Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the contraction in remittances and the slowdown in foreign direct investments (FDI) is not as worse as they originally projected.  “The impact of COVID-19 on the inflows of OF (overseas...

Cash remittances sent by overseas Filipinos via the banking system declined to $19.285 billion as of end-August, 2.6 percent lower than same period last year of $19.808 billion, the Bangko Sentral ng Pilipinas (BSP) reported Thursday. For the month of August only, bank-channeled remittances were...

Cash remittances sent by overseas Filipinos (OF) via the banking networks increased by 7.8 percent in July but January-July data still show a decline of 2.4 percent to $16.802 billion because of the COVID-19 pandemic. The 2.4 percent year-to-date (YTD) decline is recorded both for the cash and...