Western Union: Crisis Will Hurt Vietnam Overseas Remittances
The current global crisis will likely affect strongly Vietnam’s overseas remittances in the coming months, Ian Marsh, vice president-cum-CEO of Western Union’s Asia-Pacific Region was quoted as saying on December 1.
Statistics by Western Union showed that more than three million Vietnamese nationals reside abroad and who are forecast to remit less cash back to their homeland, Ian Marsh said.
Besides, fluctuations of foreign currencies will directly impact the overseas remittance flows, he said.
Last year, Vietnam reported more than US$6 billion of overseas remittances, being listed among top ten of countries which received big overseas remittances, the Western Union official said. (Labor)
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