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Sending the Money Home: The Latin American Remittance Market - May 2005 |
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Author: Jan Smith Ramos
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 Family remittances from Latin Americans working in the developed countries are now the second-largest source of capital inflows into the region after FDI. Total remittances rose by 20% in 2003 to reach $38 billion, according to IADB estimates. In some countries, such as El Salvador and Nicaragua, they account for more than 15% of GDP.
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