Philippines - IOM Manila launched an on-line resource website addressing the global financial crisis and its impact on the Philippines and neighbouring countries last December 18, 2009.

The website was officially launched in Manila at the annual celebration of the Month of Overseas Filipinos and International Migrants Day, co-organized by the Commission for Filipinos Overseas, the Department of Foreign Remittances in the month of September 2009 reached USD 1.4 billion, up 8.6 per cent from USD 1.33 billion in the same month a year earlier.

The official Philippine Central Bank projection points to a 4 per cent increase in remittances in 2009 to USD 17.1 billion, up from USD 16.4 million in 2008. Remittances usually peak in the run up to Christmas.

This contrasts sharply with the experience of other migrant-sending countries such as Mexico, Poland and Morocco, which have all seen a reduction in remittance flows this year.

The website, which can be accessed through http://www.globalfinancialcrisis.ph.iom.int [1] will be regularly updated to include the latest reports and articles on the theme.