Venezuela:​ Remittances as a Source of Foreign Exchange and Economic Survival

Photo of migrants crossing the Colombian border Rafael Urdaneta Rojas / Pixabay / modovisible

The following presentation from the Migration, Remittances, and Development Program’s Remittance Industry Observatory (RIO) features new data on remittances in Venezuela. The data release underscores the increasing importance of remittances to the country in the context of increased emigration and political instability. Remittances reached US$4.2 billion in 2022 and are now received by an estimated 29 percent of Venezuelan households. Despite the volume, remittances are almost entirely transmitted through unlicensed providers and a disproportionate amount originates from the US.



Related Links

Suggested Content

Hugo Stay Home

Hugo Chavez, the Venezuelan president, has clearly been enticed by the Libyan drama, where his longtime friend and ally, Muammar al-Qaddafi, is under siege from rebel forces.

˙Michael Shifter