Revised Outlook for Remittance Flows 2009‐2011 : Remittances Expected to Fall by 5 to 8 Percent in 2009

Revised Outlook for Remittance Flows 2009‐2011 : Remittances Expected to Fall by 5 to 8 Percent in 2009

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 i...

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Bibliographic Details
Main Authors:	Ratha, Dilip, Mohapatra, Sanket
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ANNUAL GROWTH ASSETS BASKET OF GOODS BENEFICIARIES BENEFICIARY CAPITAL FLOWS CURRENCY EXCHANGE DATA ON REMITTANCES DEPRECIATION DEVELOPING COUNTRIES ECONOMIC CRISIS ECONOMIC DOWNTURNS EMERGING MARKETS EQUITY FLOWS EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXCHANGE RATES EXPENDITURE EXTERNAL FINANCING FAMILIES FINANCIAL CRISIS FINANCIAL SERVICES FOREIGN DIRECT INVESTMENT FOREIGN INVESTORS FOREIGN WORKERS GROWTH OF REMITTANCES GROWTH RATE HOME COUNTRIES HOME COUNTRY HOST COUNTRIES HOST COUNTRY HOUSEHOLDS ILLEGAL IMMIGRANTS INCOME INCOME SHOCKS INCOMES INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INSURANCE INVESTMENT PURPOSES LABOR MARKET LEGAL MIGRANTS LOCAL CURRENCY MIGRANT WORKERS MIGRANTS OIL PRICES OIL REVENUES PAYMENT OBLIGATIONS PORTFOLIO PORTFOLIO FLOWS PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE DEBT PUBLIC EXPENDITURE PURCHASING POWER REAL ESTATE REMITTANCE REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCE OUTFLOWS REMITTANCES REMITTANCES FOR INVESTMENT RESERVES RETURN SAVINGS SEND REMITTANCES SKILLED MIGRANTS SLOWDOWN SOCIAL SECURITY UNCERTAINTY UNEMPLOYMENT UNEMPLOYMENT INSURANCE VALUATION VALUE OF REMITTANCES WORK PERMITS
Online Access:	http://documents.worldbank.org/curated/en/2009/03/10419906/revised-outlook-remittance-flows-2009-2011-remittances-expected-fall-5-8-percent-2009 http://hdl.handle.net/10986/10990

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Summary:	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.

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