Post-Typhoon Yolanda remittances to further boost peso – analysts
Tuesday, 19 November 2013 08:50
Source: GMA News
By: Danessa O. Rivera and Siegfrid O. Alegado
A fresh wave of remittances from overseas Filipinos to help families rebuild their lives in Central Philippines will boost the peso against the dollar in the aftermath of Super Typhoon Yolanda, according to analysts.
In an e-mailed note Monday, researchers Craig Chan and Prateek Gupta at global financial services firm Nomura said overseas Filipinos will send more money back home for relief and reconstruction – supporting the local currency.
Remittance system must evolve to match growing workforce
Tuesday, 19 November 2013 08:47
Payments home by overseas workers reached a staggering $534 billion (£358.7 billion) last year and look set to top $685 billion (£460.1 billion) by 2015, according to the World Bank. With such a vast amount of payments today being conducted across borders, there is a real need for more efficient ways to make payments.
In Western Europe, despite a brief decline in workers' remittance payments during the financial crisis and a general reduction in immigration levels, these payments have now stabilised and started increasing again over the last few years. Indeed, factoring in informal flows that are not tracked, the scale of the growth is greater still.
After Typhoon Haiyan, Overseas Filipinos Raise Their Remittances
Tuesday, 19 November 2013 08:38
Source: The Wall Street Journal
By: Jake Maxwell Watts and Chester Yung
The Diaspora Around Asia Mobilizes to Send Home Even More Cash Than Usual
As aid slowly trickles in to the typhoon-ravaged rural communities of Leyte province in the Philippines, members of a vast, scattered Filipino diaspora around Asia have been mobilizing to send much more cash back home to their families.
While official figures for November aren't yet available, remittance centers in Hong Kong and Singapore suggest an increase of as much as 20% in money sent back in the past week. Hong Kong and Singapore are home to two of Asia's biggest overseas populations of Filipinos, many of them working as domestic helpers.
Remittances To Latin American Nations, Except Mexico, Recovering To Pre-Recession Levels
Tuesday, 19 November 2013 08:35
Source: International Business Times
By: Patricia Rey Mallén
Is this light at the end of the tunnel? Remittances sent to Spanish-speaking nations in Latin America by immigrants in the United States and elsewhere have recovered to pre-recession levels, with the notable exception of Mexico.
According to a study by the Pew Research Center, a non-partisan think-tank in Washington, migrant remittances from the U.S. to Mexico will total about $22 billion this year, 29 percent below the 2006 peak. But for all other Spanish-speaking Latin American states (which excludes Brazil), remittances this year will total $31.8 billion, slightly higher than their 2008 peak.