MANILA, Philippines (Xinhua) — Remittances from overseas Filipino workers (OFWs) coursed through banks rose 6.7 percent on year to a record high of 1.5 billion U.S. dollars in October on continued global demand for Philippine labor, the Philippine central bank reported Tuesday.
Likewise, the damages wrought by typhoons Ketsana and Parma also forced most OFWs to send more to their affected families. This pushed OFW remittances in the January to October period to increase by 4.5 percent to 14.3 billion U.S. dollars.
The major sources of remittances are the U.S., Canada, Saudi Arabia, U.K., Japan, Singapore, United Arab Emirates, Italy, and Germany.
“The continued deployment of Filipino workers abroad, particularly skilled and higher-paid workers, has provided support to the steady flow of remittances over the ten-month period,” Philippine Central Bank Governor Amando M. Tetangco Jr. said in a statement.
“Higher transfers to families whose properties were damaged by typhoons Ketsana and Parma that hit the country in late September and early October contributed to the rise in remittances,” he added.
Despite the recent financial problems in Dubai where there is a fairly large concentration of Filipino workers, Tetangco was optimistic of sustained deployment of Filipinos in the Middle East region in general as there’s demand in the construction and health care sectors.
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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