Remittances to Latin America will slow this year
Keyword(s):
Subject Remittance growth in Latin America. Significance Remittances to Latin America and the Caribbean (LAC) grew almost 10% last year, with Mexico registering another year of record inflows, driven by strong economic growth and low unemployment in the United States. Impacts Strong remittance growth is helping to counter the impact of poor growth in many LAC countries. Remittances from Venezuelan migrants are helping to alleviate the suffering of relatives there, possibly to the government's benefit. Sending costs remain high in LAC, but migrants are embracing lower-cost digital services.
Keyword(s):