| 2009/03/17 00:00

Migrant Workers Sending Less Money to Latin America

Funds sent by overseas workers back to Latin America and the Caribbean are expected to drop steeply in 2009, shrinking a crucial source of cash for many families in the region.

Migrant Workers Sending Less Money to Latin America

Remittances to the region began to slow in 2008 after a decade of growth, according to the Inter-American Development Bank, as countries such as the U.S., Spain and Japan, slid into recession.
 
This year, remittances to the region are likely to decline for the first time since the bank began tracking annual flows in 2000, according to a new study by the Washington-based multilateral institution.
 
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