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Browse Archive Finance Understanding How Remittance Market Fundamentals Will Affect Remittances and Banks - September 2007
Browse Archive Finance Understanding How Remittance Market Fundamentals Will Affect Remittances and Banks - September 2007 | Understanding How Remittance Market Fundamentals Will Affect Remittances and Banks - September 2007 |
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Worker remittances constitute a critical flow of foreign currency into Latin America and the Caribbean. Remittances exceeded US$58 billion in 2006, greater than the total value of development fund inflows to the region. In at least six countries, remittances account for 10 percent of GDP. The market is so vast that it could easily accommodate new players and business models. Mexico accounts for roughly 40 percent of remittances to the region, and serves as an important barometer. In 2006 it reported only 15 percent annual growth and first semester 2007 data indicates virtually no growth.| < Prev | Next > |
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