But as diplomatic tensions rise, Duterte last week said the ban on sending workers to Kuwait remains. 'Limited' impact on remittancesBut Nomura said a permanent ban may hurt remittances in the medium term, although such an impact would be “limited” as Filipino workers in Kuwait may seek employment elsewhere. Remittances from Kuwait totaled $790 million, or 2.8 percent of total, in the past 12 months. Based on a 2017 survey, overseas Filipino workers in Kuwait number around 154,000, or 6.7 percent of the overall 2.3 million workers. “We believe Bangko Sentral ng Pilipinas’ monetary policy stance has yet to become fully supportive of the peso,” Nomura said.

Source: Philippine Star May 03, 2018 11:48 UTC