Revised Outlook for Remittance Flows 2009‐2011 : Remittances Expected to Fall by 5 to 8 Percent in 2009

The authors have revised forecasts for remittance flows in the light of a downward revision to the World Bank's global economic outlook. The authors now expect a sharper decline of 5-8 percent in 2009 compared to earlier projections outlined in migration and development brief 8 (report no. 46715). This decline in nominal dollar terms is small relative to the projected fall in private capital flows or official aid to developing countries. However, considering that officially recorded remittances registered double-digit annual growth in the past few years to reach an estimated $305 billion in 2008, an outright fall in the level of remittance flows as projected now will cause hardships in many poor countries.

Bibliographic Details

Main Authors:	Mohapatra, Sanket, Ratha, Dilip
Language:	English
Published:	World Bank, Washington, DC 2009-03
Subjects:	ANNUAL GROWTH, ASSETS, BASKET OF GOODS, BENEFICIARIES, BENEFICIARY, CAPITAL FLOWS, CURRENCY EXCHANGE, DATA ON REMITTANCES, DEPRECIATION, DEVELOPING COUNTRIES, ECONOMIC CRISIS, ECONOMIC DOWNTURNS, EMERGING MARKETS, EQUITY FLOWS, EXCHANGE RATE, EXCHANGE RATE MOVEMENTS, EXCHANGE RATES, EXPENDITURE, EXTERNAL FINANCING, FAMILIES, FINANCIAL CRISIS, FINANCIAL SERVICES, FOREIGN DIRECT INVESTMENT, FOREIGN INVESTORS, FOREIGN WORKERS, GROWTH OF REMITTANCES, GROWTH RATE, HOME COUNTRIES, HOME COUNTRY, HOST COUNTRIES, HOST COUNTRY, HOUSEHOLDS, ILLEGAL IMMIGRANTS, INCOME, INCOME SHOCKS, INCOMES, INFRASTRUCTURE DEVELOPMENT, INFRASTRUCTURE INVESTMENTS, INFRASTRUCTURE PROJECTS, INSURANCE, INVESTMENT PURPOSES, LABOR MARKET, LEGAL MIGRANTS, LOCAL CURRENCY, MIGRANT WORKERS, MIGRANTS, OIL PRICES, OIL REVENUES, PAYMENT OBLIGATIONS, PORTFOLIO, PORTFOLIO FLOWS, PRIVATE CAPITAL, PRIVATE CAPITAL FLOWS, PRIVATE DEBT, PUBLIC EXPENDITURE, PURCHASING POWER, REAL ESTATE, REMITTANCE, REMITTANCE FLOWS, REMITTANCE INFLOWS, REMITTANCE OUTFLOWS, REMITTANCES, REMITTANCES FOR INVESTMENT, RESERVES, RETURN, SAVINGS, SEND REMITTANCES, SKILLED MIGRANTS, SLOWDOWN, SOCIAL SECURITY, UNCERTAINTY, UNEMPLOYMENT, UNEMPLOYMENT INSURANCE, VALUATION, VALUE OF REMITTANCES, WORK PERMITS,
Online Access:	http://documents.worldbank.org/curated/en/2009/03/10419906/revised-outlook-remittance-flows-2009-2011-remittances-expected-fall-5-8-percent-2009 https://hdl.handle.net/10986/10990
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