Are Trends in Money Transfers to Latin America Shifting Downward?
By Manuel Orozco
FOCALPoint (Canada), November 1, 2008
With the financial crisis in the United States, speculation about the decline in remittances to Latin America has raised concern about the impact on the economies in Latin America and the Caribbean, particularly among more remittance dependent countries. Such speculation has largely been associated to the decline of flows to Mexico, thus raising questions about the future of these flows on an international scale. However, these speculations may obscure a rather complex reality exclusive to Mexico’s history as well as to basic dynamics of migration and remitting.