Remittances Strong

Latin American workers in the United States, Europe, and other countries sent $61.3 billion in 2012 to their native countries. Top recipients in billions: Mexico ($22.4), Guatemala ($4.8), Colombia ($4.1), El Salvador ($3.9), Dominican Republic ($3.2), Honduras ($2.9), Peru ($2.8), Ecuador ($2.5), Jamaica ($2). The attached report concludes: “Despite the difficulties faced by migrants in continuing to send remittances, the data show that these flows of money remain an important means of survival for millions of families in the region. For that reason, it is important to continue with ongoing efforts at both the international and national levels, in order to improve understanding of this phenomenon, reduce the cost of sending money, and support initiatives that allow families to accumulate assets through savings and also leverage these resources for productive investments.”

http://idbdocs.iadb.org/wsdocs/getDocument.aspx?DOCNUM=37735715