Enhancing The Efficiency Of Overseas Workers Remittances
Technical Assistance Report
Migrant remittances represent the most direct, immediate and far reaching
benefit to migrants and their countries of origin. They are a more
constant source of income to developing countries including the
Philippines.
This study takes the perspective of remittances as a critical source of
capital and resources that have impacted, and will probably continue to
impact on the development of millions of households in the Philippines. The
two main areas of this study included
- a review of the flows of remittances by Overseas Filipino Workers from two representative sources countries (Singapore and the United States)
- the identification of the constraints in the policy, regulatory, and institutional framework that influence or impact on these flows
The principal objective was to develop proposals that will address the
problems and constraints with a view to increasing remittance volumes,
facilitating the shift from informal to formal channels, and leveraging the
use of remittances for sustainable poverty reduction.
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