Overseas Remittances to Vietnam Low at US$4.2B in Jan-Aug
Vietnam received only US$4.2 billion of overseas remittances between January and August, the Thoi Bao Kinh Te Saigon newspaper reported, citing Governor Nguyen Van Giau of the State Bank of Vietnam.
Overseas remittances to the country are likely to fall to US$5.8 billion in 2009 as a result of the global financial crisis, compared to US$7.2 billion last year, Giau said in a recent interview.
A report of the World Bank released in July 2009 showed that Vietnam ranked among top ten developing countries which received most overseas remittance in 2008
Overseas remittances to Vietnam have steadily increased to US$5.5 billion in 2007 from US$1.6 billion five years earlier. (Saigon Economic Times)
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