IDB estimates of 2008 remittance flows to Latin America and the Caribbean

The IDB projects that remittances to Latin America and the Caribbean will grow by 1.5% in 2008, reaching 67.5 billion dollars. Despite a nominal increase, this will be the first year on record during which the real contribution of remittances to households will have decreased. Adjusted for inflation and exchange rate variations, the IDB estimates that remittances will have contributed 1.7 % less to the household incomes in Latin America and the Caribbean than in 2007.