Drop in remittances creates concern in the Region
The drop in remittances sent to Central America and Mexico, due to the financial crisis in the US, is a "very strong blow" that requires a regional program.
Tuesday, October 7, 2008
"The drop in remittances is a very strong blow that is starting to be felt" in Central America, said Alejandro Solorzano, president of the Central American Parliament commission on International Relations.
Fourth quarter of 2008 registers first decline in nearly a decade. Flows of money sent home by migrants hit by economic slowdown, exchange rate swings
The US president is already putting into practice his premise "America First", which leads Central America to anticipate negative changes in the flow of remittances from that country.
Until recently, the nations of Latin America have been relatively unaffected by the financial crisis that is affecting the world’s leading economic powers.
During the first four months of this year, the country reported the largest decrease in the volume of remittances in all of Central America.
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