The IADB estimates that Latin American migrants in the US will send $45 billion home this year. The recent World Bank study Close to Home: The Development Impact of Remittances in Latin America finds that:
Although positive, the impact of remittances on poverty and growth in the region is in most cases quite modest.
The topic has generated plenty of coverage - FT, WSJ (subscription), and several posts at NextBillion. Have your say in an online chat today at 10am with the study's authors, Pablo Fajnzylber and J. Humberto López.
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