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Thursday, December 08, 2005
Region 6 OFWs' share in US10B dollars in projected remittances noted
By Toti Villavert
ILOILO CITY -- The documented l0,239 Overseas Filipino Workers (OFW) from Western Visayas will have a significant share to the $l0 billion remittances projected by the Bangko Sentral ng Pilipinas (BSP) said Rhea Glynda Calantas, head of the Philippine Overseas Employment Administration (POEA).
Calantas said while there is a huge influx of money from the OFWs yet we cannot declare how much our OFWs from Western Visayas are remitting, because this is coursed through the banking channels.
Per POEA record, Calantas said that our l0,239 documented OFWs are working in the Middle East and Asian countries, and their remittances is a very big factor for the upliftment of the country's economy.
"The money earned by our OFWs is really a big factor considering that it helps in sending their children to school, and their other basic needs," Calanatas said in a Philippine Information Agency (PIA) interview.
"She also said that the number of OFWs in Region VI documented as of November 2005 is 6.4 percent higher compared to last year of the same period.
"There may be more OFWs from Region VI but we are sorry that some were not documented, but their remittances also contribute to our economy," Calantas said.
"We have informed the public that the safest way to work abroad is to pass through the legal way, but some opted the other way," Calantas concluded.
Meanwhile, reports also disclosed that the World Bank estimates that remittances or money transfers from OFWs will reach $l2 billion this year, 20 percent higher than the $l0 billion projection of the BSP.
To honor outstanding OFWs, President Arroyo presented them with the 2005 Bagong Bayani Awards in a ceremony held at the Rizal Hall of Malacañang.
(December 8, 2005 issue)
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