Tuesday, December 11, 2007
PIA Homepage: "Gov't moves to break offshore employment cycle By Renee F. De Guzman San Fernando City, La Union (11 December) -- Notwithstanding the cash remittances from the overseas Filipino workers as major growth driver of our economy and their outstanding contributions to their host countries, President Gloria Macapagal-Arroyo is determined to break the offshore employment 'to keep the best and brightest Filipinos at home.' Working with the Bangko Sentral ng Pilipinas (BSP), the President is focused on economic reforms designed to check the overseas employment cycle so that 'we can keep our best and brightest at home - closer to families and friends, helping to build our communities, and providing the next generation of leadership'. In this regard, the BSP conceptualized a financial literacy program for OFWs and their families. The campaign emphasizes the importance of savings and introduces the participants to alternative opportunities for their remittances, such as placements in financial instruments and investments in business ventures."