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Toward financial independence:Financial literacy for remittance senders and recipients

By Nancy Castillo, Landen Romei and Manuel Orozco
Inter-American Dialogue, June 14, 2010

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This briefing reports the experience of providing financial education to migrants and the effects on their behavior. We find that migrants are receptive to financial education, particularly through a methodology that meets their needs in a format that is personal, and that they demonstrate a willingness to modify their behavior. Moreover, there are opportunities to expand and strengthen the impact of financial literacy to this segment through cooperation among relevant actors.