In 2013, cash remittances of overseas Filipinos reached a record high of almost $ billion $ We also recognize that the efforts of banks at enhancing competition and transparency in the remittance market has benefitted millions of overseas Filipinos and their families in terms of lower charges.
Thanks to a well-defined institutional framework laying down the conditions for a sustainable convergence process, the progressive integration of a number of catching-up economies is an enterprise, a mission, which the euro area – unique among the great economic powers in the world – has set for itself and to which it has successfully worked.