Remittances set to fall in 2009

For the first time in over a decade remittances to sub-Saharan Africa are set to fall in 2009, increasing people's vulnerability to poverty, officials at the World Bank say.

12 Nov 2008

The World Bank's latest migration and development brief, published on 11 November, says remittance income in developing countries will decline by about 1 percent from 2008 to 2009.

Dilip Ratha, lead economist and manager of the migration and remittances team at the World Bank, told IRIN the drop could be far sharper. "A worst-case scenario would bring them down by as much as 6 percent."

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