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Latin America migrant money tops aid

March 19th, 2007 · Post your comment (No Comments)

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[So how does illegal immigrant labour boost the economy if they send the money home?-ed]

The amount of money sent home by Latin American migrant workers to their families has reached more than $62bn.

This figure now exceeds the combined total of all direct foreign investment and foreign aid to Latin America.

According to the Inter-American Investment Bank, the figure could reach $100bn in four years’ time.

The biggest share of money, $23bn, was sent back to Mexico, mostly from workers living in the United States remitting small sums each month.

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Tags: Corruption

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