The Earthquake’s Impact on Remittances
The earthquake in Haiti has exacerbated an existing distress during the international recession and increased uncertainty of what to do and how to help.
In 2016, the flow of remittances to Latin America and the Caribbean surpassed US $70 billion. In the 20 countries for which there is data available, the flow reached US$69 billion. This increase demonstrates continued growth since the post-recession period.
In this report, we find a range of factors shaping this growth, some associated with increased transfers from more migrants sending money. For example, in the case of Mexico, more migrants as a percentage of the total Mexican migrant population are sending money. In the case of Central America, remittances increased as a result of continued migration. We also find that transfers via new payment technologies have influenced overall growth, with more money being sent through these channels.
The earthquake in Haiti has exacerbated an existing distress during the international recession and increased uncertainty of what to do and how to help.
The question remains if Mexico has achieved a degree of institutional development consistent with its participation in those organizations.
Focusing on transnational crime is a top priority of the Obama administration’s policy in Latin America.