Remittances from Filipino workers based in the United States and other key countries in Europe and the Middle East have slumped at double-digit rates, the Trade Union Congress of the Philippines (TUCP) reported Sunday.
Based on a closer scrutiny of data from the Bangko Sentral ng Pilipinas (BSP), TUCP secretary-general and former Senator Ernesto Herrera said the January to February 2009 money transfers from Filipino workers in America declined by 12.02 percent to $1.023 billion versus the $1.163 billion they sent home in the same two-month period in 2008.
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