Slowing remittances pose risk to current account – StanChart

A slowdown in remittances from overseas Filipino workers (OFWs) in Europe, Asia and the Middle East may put the country’s current account surplus at risk in the first six months of the year, a Standard Chartered Bank researcher said.

In a recent report, StanChart Asia economist Jeff Ng said remittances likely slowed down in March from a month earlier given the lower inflows coming from the said regions.