Bangko Sentral ng Pilipinas Governor Benjamin Diokno said remittances from overseas Filipino workers may be significantly impacted if the Russia-Ukraine war escalates and involves member countries of the North Atlantic Treaty Organization. Read more here:
Russia-Ukraine war escalates and involves member countries of the North Atlantic Treaty Organization.
NATO’s members are Albania, Belgium, Bulgaria, Canada, Croatia, Czech Republic, Denmark, Estonia, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg,, Montenegro, the Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Turkey, the United Kingdom and the United States. Most of these countries host overseas Filipino workers.
“The steady supply of foreign exchange ensures a healthy balance of payments position and an adequate level of gross international reserves amid challenges to the external sector,” he said. These include increased global demand for OFWs, particularly medical practitioners and health care workers as well as skilled labor in construction and housekeeping, as these jobs help host countries in the pandemic recovery process.
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