NewsWhore
12-03-2008, 03:30 PM
Economist Henri Hebrard says that if the exchange rate hovers around RD$37 to US$1 as projected by the government in the National Budget figures, Dominicans receiving remittances from abroad will reap an additional RD$6.76 billion. He forecast nonetheless that remittances would decline in the last quarter of 2008 and the decline would continue for most of 2009 as a consequence of the global recession that is affecting the US and Spain, where the largest population of expatriate Dominicans live.
Freddy Ortiz, president of the Association of Remittance Companies, forecasts a 6% decline in remittances for the last quarter, but an overall 2% increase for 2008, as reported in Listin Diario.
Nevertheless, a Listin Diario reader comments that the decline in the association's numbers can also be attributed to families finding alternative ways of sending the money.
More... (http://www.dr1.com/index.html#5)
Freddy Ortiz, president of the Association of Remittance Companies, forecasts a 6% decline in remittances for the last quarter, but an overall 2% increase for 2008, as reported in Listin Diario.
Nevertheless, a Listin Diario reader comments that the decline in the association's numbers can also be attributed to families finding alternative ways of sending the money.
More... (http://www.dr1.com/index.html#5)