Latin Migrants Sent $62 Billion Home in 2006

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The Inter-American Development Bank estimates that migrant workers from Latin America sent home $62 billion last year — more than all foreign aid and investment in the region. The number could hit $100 billion by 2010.


The U.S. has also been increasing its defenses against illegal immigration, and immigrants are still coming, both legal and illegal. There is a flow in the other direction too. Many immigrants send money home. Over the weekend we heard how rapidly those payments are increasing.


The Inter-American Development Bank estimates that Latin American migrant workers sent home $62 billion last year alone. That is more than all the foreign aid and foreign investment in the region. Within a few years the number may hit $100 billion. It all comes from immigrants who on average send home money $100 or $150 at a time.

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