According to the World Bank:
- Remittances will fall to $290 billion in 2009, from last year's high of $305 billion
- Even with the drop, remittances will outstrip private capital flows and official development aid
Top 5 Recipients of Remittances in 2008- India: $45 billion
- China: $34 billion
- Mexico: $26 billion
- Philippines: $18 billion
- Poland: $11 billion
Comment: The five percent drop in remittances, together with a drop in exports and a drop in development assistance should result in really hard times. And of course, the reality could be worse than the forecast. JAD
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