Publication: Revised Outlook for Remittance Flows 2009‐2011 : Remittances Expected to Fall by 5 to 8 Percent in 2009
Date
2009-03
ISSN
Published
2009-03
Author(s)
Abstract
The authors have revised forecasts for
remittance flows in the light of a downward revision to the
World Bank's global economic outlook. The authors now
expect a sharper decline of 5-8 percent in 2009 compared to
earlier projections outlined in migration and development
brief 8 (report no. 46715). This decline in nominal dollar
terms is small relative to the projected fall in private
capital flows or official aid to developing countries.
However, considering that officially recorded remittances
registered double-digit annual growth in the past few years
to reach an estimated $305 billion in 2008, an outright fall
in the level of remittance flows as projected now will cause
hardships in many poor countries.
Citation
“Ratha, Dilip; Mohapatra, Sanket. 2009. Revised Outlook for Remittance Flows 2009‐2011 : Remittances Expected to Fall by 5 to 8 Percent in 2009. Migration and Development Brief; No. 9. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/32843d36-be59-521b-9721-d6b9094425e9 License: CC BY 3.0 IGO.”