Published on People Move

Outlook for Remittance Flows 2009-2011: Remittances expected to fall by 7-10 percent in 2009

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We have just released Migration and Development Brief 10 reporting latest data on remittance flows. In line with a recent downward revision in the World Bank’s forecast of global economic growth, we have lowered our forecasts for remittance flows to developing countries to -7.3 percent in 2009 from the earlier forecast of -5 percent.

Flows to Latin America have been falling in a lagged response to the construction sector slowdown in the US, but there are emerging signs of a bottoming out. In contrast, flows to South Asia and East Asia have been strong; but there is risk of a slowdown going forward.

The predicted decline in remittances is far smaller than that for private flows to developing countries. For more information, read  the Migration and Development Brief 10.


Dilip Ratha

Lead Economist and Economic Adviser to the Vice President of Operations, Multilateral Investment Guarantee Agency, World Bank

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