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                    [ArticleID] => 202077
                    [Title] => OFW remittances now more important than private loans — World Bank report
                    [Summary] => Overseas Filipino workers (OFWs) have become a very important source of finance for the Philippines, even more important than private lending. 


According to a World Bank report, remittances are a more stable source of external finance than debt as the former tend to be counter-cyclical, thus serving as buffer from other financial shocks since economic downturns encourage additional workers to go abroad. Likewise, those already abroad could increase the amount of money they send to families left behind, the report noted.


                    [DatePublished] => 2003-04-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
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PHILIP SUTTLE

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                    [Title] => OFW remittances now more important than private loans — World Bank report
                    [Summary] => Overseas Filipino workers (OFWs) have become a very important source of finance for the Philippines, even more important than private lending. 


According to a World Bank report, remittances are a more stable source of external finance than debt as the former tend to be counter-cyclical, thus serving as buffer from other financial shocks since economic downturns encourage additional workers to go abroad. Likewise, those already abroad could increase the amount of money they send to families left behind, the report noted.


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abtest

OFW remittances now more important than private loans — World Bank report

By Ted P. Torres | April 9, 2003 - 12:00am

Overseas Filipino workers (OFWs) have become a very important source of finance for the Philippines, even more important than private lending. According to a World Bank report, remittances are a more stable source...

Business