Remittances on the rise in the Philippines
For the first six months of 2006, inflows from overseas workers totalled $6bn, 15.4% higher than the same period last year.
However, the rate of growth in remittances has slowed compared to the 24% recorded during the first half of 2005. Observers put this trend down to slowing economic growth in the US, where most of the remittances originate.
The central bank said in a statement that a
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