NewsWhore
07-14-2009, 02:30 PM
The DR has received 7% less in remittances during the first half of the year, the World Bank announced yesterday in Washington, DC. The report indicates that for Latin America overall the fall off in remittances will be 6.9% for the year.
Dominican Central Bank figures for the first half of 2008 had placed remittance from overseas atUS$1.56 billion, so a 7% decrease would put this year's estimated remittances at US$1.46 billion for the first six months. This is a drop of more than US$100 million.
If the estimates prove to be true, this would mean that the 2009 remittances had fallen below the 2007 level of US$1.46 billion. In such a case, the yearly remittance level would fall to just US$2.91 billion from the US$3.11 billion level of 2008, and considerable less than the US$3.05 level of 2007.
The World Bank has forecast double-digit remittance declines for most of Central America, too. The World Bank adjusted its estimates upwards from the 5% decrease predicted earlier in the year.
More... (http://www.dr1.com/index.html#11)
Dominican Central Bank figures for the first half of 2008 had placed remittance from overseas atUS$1.56 billion, so a 7% decrease would put this year's estimated remittances at US$1.46 billion for the first six months. This is a drop of more than US$100 million.
If the estimates prove to be true, this would mean that the 2009 remittances had fallen below the 2007 level of US$1.46 billion. In such a case, the yearly remittance level would fall to just US$2.91 billion from the US$3.11 billion level of 2008, and considerable less than the US$3.05 level of 2007.
The World Bank has forecast double-digit remittance declines for most of Central America, too. The World Bank adjusted its estimates upwards from the 5% decrease predicted earlier in the year.
More... (http://www.dr1.com/index.html#11)