“Migrant workers sent back more than $62.3bn to their families in Latin America and the Caribbean last year, a rise of 14 per cent on 2005.
The figures, to be released this weekend at the annual conference of the Inter-American Development Bank, confirm that remittances have become one of the region’s most important sources of foreign exchange. For the fourth successive year they will exceed the combined flows of foreign direct investment and overseas aid into the region.
Mexico (with a total of $23bn), Brazil ($7bn) and Colombia ($4bn) receive most remittances, but the flows are especially beneficial for the poorer and more marginal countries of Central America and the Caribbean, where they account for more than 10 per cent of GDP in many cases. ”
Due to immigration crackdowns the artical says more is being brought by hand towards the end of the year. Apparently this counters efforts to funnel the money to investments. It speaks of urging banks to give loans, etc.
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11:11, 28.02.2010
Ah yes, Bush just returned from these Countries. He only went to hear their pleas for immigration reform. Yes money flowing from the U.S. to these Latin American Countries, has dropped significantly this quarter as opposed to the last quarter. If we close our borders and rid our Country of all these illegals, every economy South of us will suffer greatly. So sure Bush went to soothe their minds into thinking reform is just around the corner. He wants to be friendly to our neighbors and continue to provide them with economic strength. In the meantime he ignores the pleas of his own Citizens regarding illegal aliens & closed borders, just so he can be a friendly neighbor.
Is anyone starting to see the bigger picture here, I sure hope so? Because Bush is a sell out!
Of course these Countries will push Bush for immigration reform, if they don’t their economy will greatly suffer. You see Bush doesn’t care about the U.S. Citizens and the taxing burdens put on us due to the mass illegal invasion, his biggest concern is for everyone south of our borders.
Am I mistakened when I must say he is the President of the United States of America, or would it be more appropriate to say he is a future candidate for the NAU?
11:11, 28.02.2010
ohh quit complaining. If you people really gave a flying f u c k that money was being taken out of your country you people wouldn’t buy stuff made in China. Where do you think that cash ends up? Stop using illegal immigration as your scapegoat for everything
11:11, 28.02.2010
I think it’s good that some of the circulating money is removed from the country: That helps reduce inflation, as there are less dollars chasing the products.
That, in addition that immigrants generally reduce the cost of labor, has helped the economy of the United States keep low levels of inflation.
11:11, 28.02.2010
of course, another person to put the blame on the president, what about the governors, the congress, what about all the other gutless politicians, who use immigration reform to get elected then sit in their offices and do nothing. we are sure the first ones to put the blame on bush, then elect another politician who does nothing but golf. when are you all going to wake up. quit electing idiots. its not one man, but all of them. congress, governors, local politicians, all of them. they just continue to snow all of america to get elected and you stupid morons continue to elect them. put the blame on yourself for a change, and the next time you vote if you have the guts, vote for someone else other than the usual lazy politician that continues to snow america. and most of them are so old they can barely remember what their platforms for election were in the first place.
11:11, 28.02.2010
i think our govt is full of crap,and needs to do something about the illegals taking our money and sending it to their home country’s.
19:37, 21.04.2010
C таким качеством не охота….
S. seem to despise immigrants,…
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21:30, 03.05.2010
Я согласен со всем выше сказанным. Давайте обсудим этот вопрос….
Someone……