In a country facing so many problems, the estimated 8 million Filipino overseas foreign workers (OFWs) who live and work abroad are a rare bright spot in an otherwise bleak outlook. Officially, OFWs remit almost $10 billion of cash each year to the Philippines, normally in small amounts, to supplement and even substitute for incomes at home.
The government estimates that each year an additional $2 billion finds its way back to the country through non-banking channels.
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