Overseas Pakistanis send $ 55.01bn in last five years

By: Shoaib-ur-Rehman Siddiqui

The overseas Pakistan had sent US $ 55.01 billion from the financial year 2008-09 to 2012-13, said Ministry of Overseas Pakistanis and Human Resource Development.

According to the ministry’s document, the remittances had shown a growth ratio of 5.56 percent during the financial year 2012-13 as compared with 2011-12.

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Zimbabwe: Diaspora remittances in decline

Remittances by Zimbabweans in the Diaspora sent through money transfer agencies and formal banking channels declined by 15 percent last year to $1.8 billion, the country’s central bank has announced.

Zimbabwe has a strong skilled and non-skilled diaspora population mainly in South Africa, the United Kingdom, Canada, Australia and the United States who regularly send money back home to sustain their families.

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Philippines posts record $4.48bn BoP deficit in Jan

The Philippines posted a record balance of payments (BoP) deficit of $4.48bn in January, when it saw its biggest-ever net portfolio outflows due to an emerging market rout, data from the central bank showed yesterday.

But authorities expect the country’s external payments position to improve in coming months as markets grow calmer over the US Federal Reserve’s plans to scale back its massive stimulus programme.

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