Mexican remittances drop 36%, IFAD analysis

Thursday, 03 December 2009 13:50

Remittances to Latin America and the Caribbean to drop 11% in 2009, according to IDB

Wednesday, 12 August 2009 00:00

 Latin America and the Caribbean will receive about $62 billion in remittances from its expatriates in 2009, a decline of about 11 percent from last year, according to the Inter-American Development Bank’s Multilateral Investment Fund (MIF).                          

The estimate reflects the impact of the global economic crisis on migrant workers from this region, most of whom are living in industrialized countries hit by recessions, such as the United States, Spain and Japan.

Read more: Remittances to Latin America and the Caribbean to drop 11% in 2009, according to IDB

Remittance Flows to Developing Countries to Decline By 7.3% in 2009

Monday, 13 July 2009 10:19

Remittance flows to developing countries are expected to be $304 billion in 2009, down from an estimated $328 billion in 2008, said the World Bank today, releasing a new migration and remittances brief to coincide with an International Diaspora and Development Conference running from July 13-14.

The predicted decline in remittances by -7.3% this year is far smaller than that for private flows to developing countries.  According to the World Bank, remittances are relatively resilient because, while new migration flows have declined, the number of migrants living overseas has been relatively unaffected by the crisis.

Read more: Remittance Flows to Developing Countries to Decline By 7.3% in 2009

IDB releases data on 2008 remittances to Latin America and analysis of financial crisis impact

Tuesday, 17 March 2009 06:12

On Monday, March 16th The Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) released its annual map of remittances to Latin-America and the Caribbean. In 2008, remittances rose 0.9% to $69.2 billion, a record high for remittances to the region. With economies under pressure in remittance sending countries, the financial crisis is having a major impact on migrant workers and their family members abroad, as a result remittances will drop for the first time in 2009.

The document will address the effects of the crisis on remittance flows to date and the challenges that lie ahead. Click on the cover to see the press release, press conference video and documents.

2008 Map of Remittances to Latin-America and the Caribbean

Remittances in times of Financial Instability