Outlook for Remittance Flows 2008-2010 : Growth Expected to Moderate Significantly, But Flows to Remain Resilient
The outlook for remittances for the rest of 2008 and 2009-10 remains as uncertain as the outlook for global growth, oil and non-oil commodity prices, and currency exchange rates. In the past, remittances have been noted to be stable or even counter-cyclical, during an economic downturn in the recipient economy, and resilient in the face of a slowdown in the source country. This time, however, the crisis has affected all countries, creating additional uncertainties.
Summary: | The outlook for remittances for the rest
of 2008 and 2009-10 remains as uncertain as the outlook for
global growth, oil and non-oil commodity prices, and
currency exchange rates. In the past, remittances have been
noted to be stable or even counter-cyclical, during an
economic downturn in the recipient economy, and resilient in
the face of a slowdown in the source country. This time,
however, the crisis has affected all countries, creating
additional uncertainties. |
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