BusinessWorld E-paper
April 21, 2022
THE Philippine central bank expects remittances from overseas Filipino workers (OFWs) to
continue supporting the economy’s recovery from the pandemic, and ease the burden on public finances.
“Remittances will continue to be a significant force in the Philippine economy over the medium term. For one, rising incomes in host countries will continue to serve as a magnet to those whose skills are in demand overseas,” Bangko Sentral ng Pilipinas (BSP) officials said in a discussion paper titled “Remittances from Overseas Filipinos in the Time of COVID-19:Spillovers and Policy Imperatives.”
