Latin America, Caribbean Remittances Seen $60 Billion in 2006
Wednesday, September 13rd, 2006 / 22:42
QUITO -(Dow Jones)- Remittances sent home by some 25 million Latin American and Caribbean immigrants are pegged to reach $60 billion in 2006, according to a study released Wednesday by the Inter-American Development Bank, or IDB. That figure is 20% higher than it was in 2005, Donald Terry, manager of the IDB's Multilateral Investment Fund, said at a press conference. Of the total funds, 75% are sent from the U.S., 17% from Europe, and 8% from Japan.
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