Earnings – Overseas

16 Dec 2021 – Remittances grow 5.4% in 10 months

Published by rudy Date posted on December 16, 2021

by Lawrence Agcaoili – The Philippine Star, 16 Dec 2021 MANILA, Philippines — Remittances from overseas Filipinos sustained their growth momentum for nine straight months, hitting a three-month high in October as the Christmas season approaches, according to the Bangko Sentral ng Pilipinas.

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OFW remittances continue to rise

Published by rudy Date posted on November 16, 2021

by Lawrence Agcaoili – The Philippine Star, 16 Nov 2021 MANILA, Philippines — Remittances from Filipinos abroad increased for the eighth straight month with the start of the so-called ’ber months and overseas Filipino workers (OFWs) sending more money to their loved ones in time for the Christmas season.

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OFW families investing more – survey

Published by rudy Date posted on September 27, 2021

by Lawrence Agcaoili – The Philippine Star, 27 Spep 2021 MANILA, Philippines — More families of overseas Filipino workers (OFWs) are turning to investments as the Bangko Sentral ng Pilipinas (BSP) sees cash remittances growing at a faster rate of six percent this year with the gradual reopening of host countries from the impact of…

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BSP sees remittances rising 6% this year

Published by rudy Date posted on September 19, 2021

by Agcaoili – The Philippine Star, 19 Sep 2021 MANILA, Philippines — Dollars sent home by expatriate Filipinos are expected to grow at a faster rate of six percent, from the original forecast of four percent this year, amid the continued reopening of economies hosting overseas Filipino workers (OFWs), according to the Bangko Sentral ng…

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Remittances on a roll, up for 6th straight month

Published by rudy Date posted on September 16, 2021

by Lawrence Agcaoili – The Philippine Star, 16 Sep 2021 MANILA, Philippines — Remittances from abroad climbed for the sixth straight month in July amid the continued reopening of economies hosting overseas Filipino workers (OFWs), according to the Bangko Sentral ng Pilipinas.

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Remittances sustain rise to hit 6-month high

Published by rudy Date posted on August 17, 2021

by Lawrence Agcaoili (The Philippine Star), 17 Aug 2021 MANILA, Philippines — Remittances from overseas Filipino workers (OFWs) continue to climb, hitting the highest level in six months in June amid further global economic reopening, although at a slower pace than the double-digit growth recorded in April and May, according to the Bangko Sentral ng…

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17 Aug 2021 – OFW remittances continued uptrend in June

Published by rudy Date posted on August 17, 2021

By Daxim L. Lucas, 17 Aug 2021 Dollars sent home by expatriate Filipinos continued to rise in June resulting in a similar increase for the first semester of the year, defying the ill economic effects of the raging pandemic around the world, data from the central bank showed.

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OFW remittances post 2-digit growth in May

Published by rudy Date posted on July 14, 2021

by Lawrence Agcaoili (The Philippine Star), 14 Jul 2021 MANILA, Philippines — Remittances from overseas Filipino workers (OFWs) recorded a double-digit growth for the second straight month in May as deployment continued to accelerate amid the easing of travel restrictions as host countries ramp up COVID-19 vaccination, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno…

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20 June 2021 – Remittances continue despite pandemic

Published by rudy Date posted on June 20, 2021

by Mary Ann LL. Reyes (The Philippine Star), 20 Jun 2021 Defying predictions, remittance flows have proven resilient during the COVID-19 crisis, with officially recorded remittance flows to low and middle-income countries reaching $540 billion in 2020 or only 1.6 percent lower than the $548 billion recorded in 2019.

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Nomura sees OFW remittances rising 5.1% this year

Published by rudy Date posted on May 19, 2021

by Lawrence Agcaoili (The Philippine Star), 19 May 2021 MANILA, Philippines — Japanese investment bank Nomura expects a 5.1 percent increase in remittances from overseas Filipino workers (OFWs) this year with the reopening of economies in host countries amid the continued rollout of COVID-19 vaccines.

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Remittances grow for second straight month in March

Published by rudy Date posted on May 17, 2021

By Ian Nicolas Cigaral (Philstar.com), 17 May 2021 Remittances are important to the consumption-reliant Philippines because they traditionally boost Filipinos’ purchasing power. MANILA, Philippines — Money sent home by Filipinos abroad posted another month of growth in March, but mainly due to benefits of a low base that hardly tell a convincing recovery.

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Philippines remittance cost among lowest – World Bank

Published by rudy Date posted on May 14, 2021

by Elijah Felice Rosales (The Philippine Star), 14 May 2021 MANILA, Philippines — Sending money to the Philippines remains among the cheapest globally, benefiting an economy reliant on remittances sent by overseas Filipino workers (OFWs), the World Bank said.

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Remittances rebound as economies reopen

Published by rudy Date posted on April 16, 2021

by Lawrence Agcaoili (The Philippine Star), 16 Apr 2021 MANILA, Philippines — Remittances from overseas Filipino workers (OFWs) bounced back strongly in February after a two-month slump as more host countries reopen their economies in line with the global rollout of COVID-19 vaccines, the Bangko Sentral ng Pilipinas (BSP) said.

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Remittances at 3-month low postpone crucial return to growth

Published by rudy Date posted on March 15, 2021

By Ramon Royandoyan(Philstar.com), 15 Mar 2021 MANILA, Philippines— Cash remittances from overseas Filipinos exacerbated their drop month-on-month in January, a shaky start for one of the economy’s brightest performers at the height of pandemic.

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OFW remittances to grow 7% in 2021

Published by rudy Date posted on March 1, 2021

By: Ben O. de Vera, INQPhilippine Daily Inquirer, 1 Mar 2021 Cash remittance flows to the Philippines would again buck the projected prolonged global downtrend this year and grow by as much as 7 percent to support a rebound in household spending, financial giant Morgan Stanley said.

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EIU sees further decline in remittances in 2021

Published by rudy Date posted on February 20, 2021

By Ben O. de Vera, Philippine Daily Inquirer, 20 Feb 2021 The prolonged pandemic may also lead to a protracted slowdown in remittances to the detriment of economies which heavily rely on these cash transfers mostly from migrant workers, The Economist Intelligence Unit (EIU) said on Wednesday.

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Dollar flow from expat Filipinos defies doomsayers, slip by only 0.3 percent in 2020

Published by rudy Date posted on February 15, 2021

by Daxim L. Lucas, Philippine Daily Inquirer, 15 Feb 2021 MANILA, Philippines—Contrary to the most pessimistic projections at the start of the pandemic, the country’s estimated 10 million expatriate Filipinos came through in 2020 to send home dollars in amounts that were just a fraction less than 2019 levels.

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OFWs carry pandemic economic load, raise remittances in October

Published by rudy Date posted on December 15, 2020

by Daxim L. Lucas, Philippine Daily Inquirer, 15 Dec 2020 MANILA, Philippines—Dollars sent home by Filipinos abroad grew slightly in October as land-based contract workers sent more money to their local beneficiaries, narrowing the year-to-date annual decline caused by pandemic-related job losses.

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OFWs send home more money despite crisis

Published by rudy Date posted on November 17, 2020

By Bianca Cuaresma, BusinessMirror, 17 Nov 2020 DESPITE dismal economic activity and thousands of layoffs all over the world, overseas Filipino workers (OFWs) still managed to send more money back home in September, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.

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World Bank sees 5% drop in remittances

Published by rudy Date posted on October 31, 2020

by Ben O. de Vera, Philippine Daily Inquirer, 31 Oct 2020 The World Bank expects remittances from Filipinos living and working overseas to decline by 5 percent this year even as the Philippines will remain the fourth-biggest recipient of these dollar inflows due to cheap remittance fees.

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Impact of drop in remittances to GDP minimal, says BSP

Published by rudy Date posted on October 26, 2020

by Lawrence Agcaoili (The Philippine Star), 26 Oct 2020 MANILA, Philippines — The projected two percent decline in remittances from overseas Filipino workers (OFWs) due to the COVID-19 pandemic may have minimal impact on the economy, according to the Bangko Sentral ng Pilipinas.

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OFW remittances seen far from 2020 doomsday scenario

Published by rudy Date posted on October 17, 2020

by Daxim L. Lucas, Philippine Daily Inquirer, 17 Oct 2020 The central bank remains upbeat on the prospects of dollar remittances from the Philippines’ estimated 10 million expatriates, including 2.2 million contract workers, despite the pandemic-induced slowdown this year.

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Remittances recover from pandemic impact in June — BSP

Published by rudy Date posted on August 17, 2020

By Ian Nicolas Cigaral(Philstar.com), 17 Aug 2020 MANILA, Philippines (UPDATE 1 7:05 a.m., Aug. 18) — Money sent home by Filipinos overseas snapped a three-month downtrend in June, helping narrow the six-month contraction as countries around the world start reopening their economies from coronavirus pandemic-led lockdowns.

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OFW remittances may drop by $5 billion this year

Published by rudy Date posted on August 10, 2020

by Lawrence Agcaoili (The Philippine Star), 10 Aug 2020 MANILA, Philippines — Remittances from overseas Filipino workers (OFWs) may drop by $5 billion this year as emerging markets, including the Philippines, face numerous challenges brought about by the coronavirus pandemic, according to Metropolitan Bank & Trust Co. (Metrobank).

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OFW remittances plunge further in May

Published by rudy Date posted on August 4, 2020

by Lawrence Agcaoili (The Philippine Star), 4 Aug 2020 MANILA, Philippines — Money sent home by overseas Filipino workers (OFWs) contracted for the third straight month, plunging by more than 19 percent in May due to the impact of the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas (BSP).

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Global remittances could drop by $108bn in 2020, new report shows

Published by rudy Date posted on August 3, 2020

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ADB sees 20.2% drop in PH remittances in 2020

Published by rudy Date posted on August 3, 2020

by Ben O. de Vera, Philippine Daily Inquirer, 3 Aug 2020 MANILA, Philippines — Remittances from Filipinos abroad are expected to drop by 20..2 percent this year amid a COVID-19 pandemic-induced global recession, putting households dependent on these cash transfers at risk of falling into poverty, the Asian Development Bank (ADB) said.

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Drop in remittances to hurt consumption in Philippines — Moody’s

Published by rudy Date posted on July 29, 2020

by Lawrence Agcaoili (The Philippine Star), 29 Jul 2020 MANILA, Philippines — A large drop in remittances from overseas workers due to the pandemic-induced global economic slump would hurt consumption in the Philippines and other major recipient countries, according to US-based credit rating agency Moody’s Investor Service.

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Developing world loses billions in money from migrant workers

Published by rudy Date posted on July 5, 2020

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COVID-19 impact: DOLE sees 40% drop in OFW remittances for 2020

Published by rudy Date posted on June 24, 2020

by Christia Marie Ramos, Philippine Daily Inquirer, 24 Jun 2020 MANILA, Philippines — The Department of Labor and Employment (DOLE) is seeing a decrease in remittances from overseas Filipino workers (OFWs) by up to 40 percent or around $13 billion this year as the world reels from the coronavirus pandemic.

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