Both also oversaw a period of impressive economic growth, largely brought about by fortuitous external factors, a commodity boom in the case of Brazil and steady remittance inflow in the case of the Philippines.
So a steady stream of remittances flows from Wormwood Scrubs to poor countries.
Meanwhile, the diaspora in Minnesota sends a steady flow of remittances to relatives in Somalia, along with leadership and advice for the country's fragile new government.
Thanks to heavy foreign buying of its shares, and a steady flow of remittances from its overseas workers, it has accumulated a stock of foreign-exchange reserves now worth 120% of its foreign debt.ASEAN's two giants are doing rather wellThis robustness may help the Philippines earn an investment-grade credit rating in 2013.
Thus, it seems that economic expansion in the Philippines has more to do with consumption inertia, steady inflow of remittances, and a skilled and affordable pool of labor attracting the global Business Process Outsourcing (BPO) industry.
The government of Nepal appears to be primarily concerned with ensuring a steady income from remittances by sending people to those regions, whereas companies of Gulf countries are in need of cheap manpower ignoring the workers' health and well being [ 15].
The news set off fears of an economic meltdown not only in American Samoa but also in the neighboring independent nation of Samoa, the citizens of which have filled most of the cannery's jobs and provided a steady flow of remittance income back home.
If that new rate held steady throughout this year – and remittances were otherwise unchanged – their value would drop precipitously in 2015, to just $7.6bn.
Despite a strong tourism industry, fishing and mining development and steady income from overseas remittances, the economic outlook for the country is vulnerable [ 34].
The lower costs may be one reason that remittances have held steady even as fewer immigrants from Mexico have come to the United States and the recession has cut into incomes.
The government has said it needs at least $2.5bn in outside investment to maintain a steady growth rate, so increasing remittances is one way to boost growth.
