The authors have revised forecasts forremittance flows in the light of a downward revision to theWorld Bank's global economic outlook. The authors nowexpect a sharper decline of 5-8 percent in 2009 compared toearlier projections outlined in migration and developmentbrief 8 (report no. 46715). This decline in nominal dollarterms is small relative to the projected fall in privatecapital flows or official aid to developing countries.However, considering that officially recorded remittancesregistered double-digit annual growth in the past few yearsto reach an estimated $305 billion in 2008, an outright fallin the level of remittance flows as projected now will causehardships in many poor countries.