NewsWhore
03-08-2010, 01:20 PM
Remittances sent home by Dominicans in 2009 is less than that in 2008, reflecting the declines in employment and in migrant income abroad as a consequence of the global financial crisis, according to a report issued on 4 March by the Multilateral Investment Fund (FOMIN), a division of the Inter American Development Bank (IDB). Remittances were US$2.79 billion in 2009, compared to US$3.07 billion in 2008.
The DR is the third nation in the Central American and Caribbean region in receipts of remittances, after Guatemala (US$3.9 billion) and El Salvador (3.4 billion).
Overall, in 2009, for the first time on record, and after a long period of consistent growth, the volume of remittances to Latin America and the Caribbean was less than the amount sent the year before.
The Fomin report warns that there are few prospects for a short-term turn-around in the volume of remittances, and instead it forecasts a possible stabilization of flows in 2010.
An estimated 2 million Dominican-born adults currently live and work outside the DR. Around 60% of annual remittance flows come from the United States.
http://www.iadb.org/mif/home/index.cfm?lang=en
More... (http://www.dr1.com/index.html#8)
The DR is the third nation in the Central American and Caribbean region in receipts of remittances, after Guatemala (US$3.9 billion) and El Salvador (3.4 billion).
Overall, in 2009, for the first time on record, and after a long period of consistent growth, the volume of remittances to Latin America and the Caribbean was less than the amount sent the year before.
The Fomin report warns that there are few prospects for a short-term turn-around in the volume of remittances, and instead it forecasts a possible stabilization of flows in 2010.
An estimated 2 million Dominican-born adults currently live and work outside the DR. Around 60% of annual remittance flows come from the United States.
http://www.iadb.org/mif/home/index.cfm?lang=en
More... (http://www.dr1.com/index.html#8)