Money sent home by migrants to families in developing countries is set to fall by up to 8 per cent this year according to the World Bank.
But remittances could rise again as soon as next year, underscoring the resilience of such payments compared to other external flows of money during downturns in rich countries.
Dilip Ratha, head of the World Bank's technical group on migration and remittances, told a conference in Manila that remittance growth was poised to recover in 2010 and 2011 as overseas workers in rich countries benefited from sectoral shifts and government stimulus packages.
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