RealNews

With Fewer Dollars to Go Around, More Are Going Around World

According to recent reports from the Multilateral Investment Fund at the Inter-American Development Bank, the amount of money sent last year to Latin America from the United States increased about 18 percent, to more than $32 billion. And despite the tough economic times and new federal restrictions on sending money abroad, experts say they do not expect the volume of these remittances to decrease anytime soon. “Remittances didn’t fall at all during the recession,” said Manuel Orozco, a leading expert on remittances to Latin America and the director of the Central America Program at Inter-American Dialogue, a research group in Washington. “It was surprising.” Full Story

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