Official warns foreign workers on rates

Lourdes Abelardo and ucanews.com reporter
Philippines
August 12, 2011

A Church official yesterday advised families of Filipinos working abroad to be more discerning in handling their finances at a time of widespread economic instability.

Father Edwin Corros, executive secretary of the Episcopal Commission on Migrants and Itinerant People of the bishops’ conference, reminded migrant workers and their families that currency fluctuations had affected the value of the peso against the US dollar.

Remittances account for around 10 percent of the total Philippines economy and foreign workers comprise nearly a tenth of the country’s population.

Father Corros appealed to the government to provide assistance to the families of foreign workers.

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