The domino effect of remittances
For many Central American Immigrants the American soil is fading and its economic origins beginning to suffer.
Monday, November 3, 2008
The adjustment in the family economy has begun to extend to to most of the Dominican and Latin American families that live in the US, even though it affects those from Central American and the Caribbean in particular; those countries are the ones that depend most on remittances sent by its citizens from the US.
The economic crisis in the US, combined with inflation and the value of the quetzal, is affecting a million homes that living off remittances.
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.
A website will allow senders to compare the costs of their remittances from the U.S. to Central America, encouraging competition between providers of such services.
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
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