Cordi OFWs remit $11.7 M in 2005 06-03-26

	NORDIS WEEKLY March 26, 2006
Home \| To bottom	Previous \| Next
Cordi OFWs remit $11.7 M in 2005
BAGUIO CITY (March 24) — Cordillera overseas workers contributed at least $11.7 million from the total $917 million contribution of the total overseas Filipino workers (OFW) posted this January by the Bangko Sentral ng Pilipinas (BSP). The $11.7 million is equivalent to P604,355,359 with the present exchange rate of a dollar to P51.26 as of March 24. According to the regional chapter of Migrante, out of the 4.2 million documented OFWs, 54,000 OFWs come from different Cordillera provinces and the city of Baguio, equivalent to 1.28 % of the total national figure. The Migrante regional spokesperson Flora Belinan claimed however that the figure may even be higher as the Cordillera OFW figure is from a 2003 report. She added that the data from the BSP refer only to the amounts passing through legal channels like the bank, and does not reflect money hand carried by the OFWs’ friends. “In fact, our organization believes that the remittances are more than the said figures as we monitor that there are at least 3,000 to 4,000 workers leaving the country per day,” Belinan stated. Nordis learned from Migrante that more Filipino workers are left with no choice, but to go abroad because no employment opportunities are available in the country. Government records this month showed that unemployment rate rose to 8.1% this January compared to 7.4% of October last year. Migrante also revealed that aside from the 4.2 million documented workers, at least 1.6 million are undocumented OFWs. Also, 3.6 million OFWs have immigrated to other countries. Data show that among the professionals who migrated to other countries are from the health sector totaling to almost 85%. They are forced to go abroad as they are assured to receive handsome salaries compared to what they received in the Philippines. This flight of our health professionals made the Philippines as the second largest exporter of physicians next to India. # Arthur L. Allad-iw for NORDIS Post your comments, reactions to this article
Home \| Back to top	Previous \| Next

	NORDIS WEEKLY March 26, 2006
Home \| To bottom	Previous \| Next
Cordi OFWs remit $11.7 M in 2005
BAGUIO CITY (March 24) — Cordillera overseas workers contributed at least $11.7 million from the total $917 million contribution of the total overseas Filipino workers (OFW) posted this January by the Bangko Sentral ng Pilipinas (BSP). The $11.7 million is equivalent to P604,355,359 with the present exchange rate of a dollar to P51.26 as of March 24. According to the regional chapter of Migrante, out of the 4.2 million documented OFWs, 54,000 OFWs come from different Cordillera provinces and the city of Baguio, equivalent to 1.28 % of the total national figure. The Migrante regional spokesperson Flora Belinan claimed however that the figure may even be higher as the Cordillera OFW figure is from a 2003 report. She added that the data from the BSP refer only to the amounts passing through legal channels like the bank, and does not reflect money hand carried by the OFWs’ friends. “In fact, our organization believes that the remittances are more than the said figures as we monitor that there are at least 3,000 to 4,000 workers leaving the country per day,” Belinan stated. Nordis learned from Migrante that more Filipino workers are left with no choice, but to go abroad because no employment opportunities are available in the country. Government records this month showed that unemployment rate rose to 8.1% this January compared to 7.4% of October last year. Migrante also revealed that aside from the 4.2 million documented workers, at least 1.6 million are undocumented OFWs. Also, 3.6 million OFWs have immigrated to other countries. Data show that among the professionals who migrated to other countries are from the health sector totaling to almost 85%. They are forced to go abroad as they are assured to receive handsome salaries compared to what they received in the Philippines. This flight of our health professionals made the Philippines as the second largest exporter of physicians next to India. # Arthur L. Allad-iw for NORDIS Post your comments, reactions to this article
Home \| Back to top	Previous \| Next