Remittances to Latin America and the Caribbean are poised to rise this year after stabilising during 2010, but a weaker dollar and higher inflation are reducing their purchasing power in many countries, according to the Inter-American Development Bank’s Multilateral Invest-ment Fund (MIF).
Measured in U.S. dollars, money transfers made by Latin American and Caribbean migrants to their countries of origin reached $58.9 billion in 2010, virtually unchanged from $58.8 billion in 2009, when remittances saw a 15 percent drop due to the effects of the global economic crisis, the MIF said in a report
