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Adventurer
Joined: 28 Jan 2006
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 Posted: Sun Mar 18, 2007 10:22 pm Post subject: LatAm migrants' money exceeds aid |
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Last Updated: Monday, 19 March 2007, 03:15 GMT
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LatAm migrants' money exceeds aid
By Duncan Kennedy
BBC News, Mexico City
Remittances could reach $100bn in four years' time
The amount of money sent home by Latin American migrant workers to their families has reached more than $62bn.
This figure now exceeds the combined total of all direct foreign investment and foreign aid to Latin America.
According to the Inter-American Investment Bank, the figure could reach $100bn in four years' time.
The biggest share of money, $23bn, was sent back to Mexico, mostly from workers living in the United States remitting small sums each month.
Foreign remittances now rank along with oil and tourism as Mexico's biggest foreign currency earner.
http://news.bbc.co.uk/2/hi/business/6465297.stm |
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Gopher
Joined: 04 Jun 2005
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| Posted: Sun Mar 18, 2007 11:26 pm Post subject: |
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| Add Cuba to that list. Miami Cubans may hate Castro, but they send money and gifts to their family members on the island all the time... |
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Adventurer
Joined: 28 Jan 2006
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| Posted: Mon Mar 19, 2007 4:46 am Post subject: |
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| Gopher wrote: |
| Add Cuba to that list. Miami Cubans may hate Castro, but they send money and gifts to their family members on the island all the time... |
How do they get around the embargo that's in place? I think the sending of so much money to their homes is why Mexico is really against the wall. |
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