uscitizen
Villified User
By Duncan Kennedy
BBC News, Mexico City
US dollar bills
Remittances could reach $100bn in four years' time
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.
Foreign remittances now rank along with oil and tourism as Mexico's biggest foreign currency earner.
http://news.bbc.co.uk/1/hi/business/6465297.stm
BBC News, Mexico City
US dollar bills
Remittances could reach $100bn in four years' time
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.
Foreign remittances now rank along with oil and tourism as Mexico's biggest foreign currency earner.
http://news.bbc.co.uk/1/hi/business/6465297.stm