2  BIS Review 17/2008  The diversification in deployment in terms of destination and quality of skills, could temper any expected slowdown in remittances from a weakening of the US economy. A second major concern for us is the possibility of further global financial market turbulence.
The IMF has noted that while coordinated credit operations by the major central banks, together with rate cuts, have helped ease liquidity tensions, wider problems in the financial system still persist. These include problems in the valuation of complex products, credit deterioration, counterparty mistrust, and balance sheet pressures.