Remittances to Latin America and the Caribbean
by Donald Terry, Manager, and Pedro de Vasconcelos,
Coordinator, Remittance Program
Multilateral Investment Fund
Call it the case of the missing billions. For decades,
millions of migrant workers have been sending billions of
dollars back to their home countries to support their families.
Yet the impact of these huge international flows of both money
and workers is only now beginning to be understood even though
these flows of both money and people have been hidden in plain
sight for decades. Why? Because the money is sent
regularly in small amounts, usually outside the formal
financial system; and the workers typically live on the margins
All of this is now changing. Remittances are widely
recognized as critical to the survival of millions of
individual families, and the health of many national economies
throughout Latin America and the Caribbean (LAC). Unlike
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.