UNICEF Social Inclusion, Policy and Budgeting

Outlook for Remittance Flows 2011-12

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AUTHOR Sanket Mohapatra, Dilip Ratha and Ani Silwal1
ORGANIZATION World Bank
TYPE Policy Brief
DATE 2010
TOPIC Migration
LANGUAGE English
ABSTRACT

Newly available data show that officially recorded remittance flows to developing countries fell to $307 billino in 2009, registering a 5.5% decline. The decline in remittances during the global financial crisis was modest compared to a 40% decline in foreign direct investment between 2008 and 2009 and a 80% decline in private debt and portfolio equity flows from their peak in 2007. Thus, remittance flows became more important as a source of external financing in many developing countries. Recorded remittance flows to developing countries are estimated to have fully recovered to the pre-crisis level of $325 billion in 2010. In line with the World Bank's outlook for the global economy, remittance flows to developing countries are expected to increase by 6.2% in 2011 and 8.1% in 2012, to reach $346 billion and $374 billion respectively.


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