Remittances to Latin America will slow this year

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.

Subject Growing remittances to Latin America. Significance Family remittances to Latin America and the Caribbean (LAC) have been growing strongly in a year when immigration has become a central and controversial election issue in the United States. Impacts Strong remittance growth will have a positive impact on millions of low-income families in the region. A Trump presidency could lead to reduced LAC-US migration and a tax on remittances, probably slowing growth in 2017-18. LAC migrants and their families are set to benefit further from an expected continuing fall in sending costs.


Subject Caribbean dependence on Venezuela. Significance The prolonged and deepening crisis in Venezuela is having a profound impact on many countries in the Caribbean. Economic and diplomatic links have grown in recent years, largely because of the PetroCaribe initiative. Impacts The United States will step in to limit the impact on some Caribbean countries, but this may be contingent on their line on Venezuela. Venezuelan migrant outflows will have a disproportionate effect on small Caribbean countries. The weakest Caribbean countries, notably Haiti, will be especially hard hit by the curtailing of Venezuelan assistance.


Subject Remittances to Latin America. Significance Family remittances to Latin America and the Caribbean (LAC) totalled 80 billion dollars in 2017, up from 74 billion in 2016. The record amount was mainly due to a robust economy and increasing employment opportunities in the United States. Impacts The US economy will again drive remittances growth this year, but immigration crackdowns could create downside risks. The slow reduction in sending costs will limit the development impact of remittances in LAC and other developing nations. So-called de-risking and regulatory burdens are high obstacles to remittances growth.


2021 ◽  
Author(s):  
Danielle Trachtenberg

This paper uses data on policy measures affecting services operation and trade to document and estimate the impact of different types of policy measures on services exports and imports, with a focus on Latin America and the Caribbean. It finds that market-entry measures are important to both total services exports and imports in the region and bilateral trade flows with the United States, while measures relating to the operation of service providers are important for bilateral trade flows with the United States.


2021 ◽  
Vol 35 ◽  
pp. 100848
Author(s):  
Ganesh M. Babulal ◽  
Valeria L. Torres ◽  
Daisy Acosta ◽  
Cinthya Agüero ◽  
Sara Aguilar-Navarro ◽  
...  

Significance The GCC imports around 85% of the food its member countries consume domestically, and the share of Latin American products as a proportion of the GCC’s total food imports has increased from 10% in 2015 to almost 14% in 2019. Impacts Pandemic-induced adoption of innovations such as e-commerce will provide opportunities to expand food exports. Post-pandemic recovery in tourism may eventually boost the GCC’s need for food imports. Growth in other markets will be crucial to help reduce LAC’s dependence on key markets such as China and the United States.


Author(s):  
Adam Ewing

This concluding chapter reflects on the success of Garveyism in both the United States, Africa, and the Caribbean. It considers how the Universal Negro Improvement Association (UNIA) had offered a powerful ideological and political vehicle for African activists during the dark years of interwar European rule, and how the impact of Garveyism continues to be felt in the continent. In the United States, as in Africa, the efforts of American Garveyites to construct vibrant organizational containers during an inauspicious decade resonated through the years. Finally, in the Caribbean, the return of labor radicalism in the mid-1930s both eclipsed established modes of Garveyist political association and boasted a leadership that had been nurtured within the Garvey movement.


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