NewsWhore
02-25-2008, 03:00 PM
Two young economists have worked out that Dominicans are spending a lot of money sending money back home. According to Diario Libre, economists Frank Valenzuela and Hector Frias, the president and executive director of the Quisqueya Foundation, calculate that nearly US$700 million was spent between 2000 and 2007 in sending remittances to the Dominican Republic. The economists say that the fees that Dominicans pay to send their remittances are among the highest in all of Latin America. To counter this expense, the economists suggest that remittances could be channeled through a Dominican bank, Banco de Reservas, by opening branches in areas with high concentrations of Dominicans throughout the United States and Europe. Valenzuela and Frias also suggest ATM machines and "micro-banks" in areas with smaller Dominican emigre communities.
More... (http://www.dr1.com/index.html#8)
More... (http://www.dr1.com/index.html#8)