Remittances Gateway
The Multilateral Investment Fund of the Inter-American Development Bank seeks to leverage the development impact of remittances to the region by making money transfers cheaper and safer and putting formal banking services within reach of those sending and receiving remittances.
This document is an overview of remittance flows to Latin America and the Caribbean in 2008 and an analysis of current trends in remittance flows to the region, with a special focus on the impact of the financial crisis.
Worldwide remittances to LaTin America and the Caribbean (LAC) reached $69.2 billion in 2008, an increase of just under one percent over 2007.1 Despite a series of challenges confronting migrant workers and their families in 2008, remittance senders proved to be remarkably resilient.
The Inter American Development Bank (IDB) projects that remittances to Latin America and the Caribbean will grow by 1.5% in 2008, reaching 67.5 billion dollars.
The phenomenal growth of remittances to Latin America in recent years slowed to single digits during 2007, raising the question of whether the change represents a bend in the road or a new direction for remittances to the region.
The phenomenal growth of remittances to Latin America in recent years slowed to single digits during 2007, raising the question of whether the change represents a bend in the road or a new direction for remittances to the region.
Remittances to Latin America and the Caribbean (LAC) reached $66.5 billion in 2007, an increase of 7% over 2006.
Haitians living abroad sent more than $1.65 billion to their homeland in 2006. These remittances sent by members of the
The purpose of this report is to offer an updated snapshot of access to financial services in Latin America and the Caribbean. The approach is two-fold.