Romanians who work abroad sent USD 4.5 billion home last year, down from USD 4.9 billion the year before, according to a study by MoneyGram based on data from the World Bank. “The decline of remittances to Romania slowed down in 2010. Remittances from UK, Spain and Italy have started to revive,” said Radu Pojoga, director with MoneyGram responsible with business development in Romania and the Republic of Moldova.

Remittances to Romania halved in 2009 from the peak of USD 9.3 billion in 2008. The main countries where Romanians work and send money home are Italy, with 36 percent of the amounts, Spain, with 34 percent and UK, with 14 percent. Then come the US and Greece, with 5 to 6 percent of the remittances each.

MoneyGram, which offers money transfer services, has 2,000 work points across Romania, having established partnerships with banks active on the local market, as well as with the retailer Carrefour.

editor@romania-insider.com