The volume of funds shipped by expatriates worldwide to their home countries should decrease from US$ 305 billion, last year, to US$ 290 billion this year. The information was supplied by the World Bank and was disclosed in Washington, in the United States.
A group of specialists held meetings at the World Bank headquarters to discuss the impact of the crisis on remittances by expatriates. Despite the reduction, total remittances exceed all of the aid to development in the world, the institution underscores.
According to the World Bank, the global financial crisis makes living conditions for immigrant workers more difficult. Many are losing their jobs, being faced with waves of xenophobia and even violence outside of their home countries. In 2007, the countries that received the most remittances were India, China and Mexico.
In Latin America, Brazil is the country that receives the third largest volume of remittances. Brazilians working abroad shipped home approximately US$ 4.5 billion in 2008, only US$ 100,000 more than the amount received by Colombia.
According to the World Bank, there are currently 200 million people living outside of their native countries worldwide.