Remittances to Latin America and the Caribbean in 2013

On February 27, 2014 at the Interamerican Dialogue in Washington D.C.  remittance expert Manuel Orozco presented his yearly analysis of the volume of remittances entitled «Current Perspectives on Remittances to Latin America and the Caribbean in 2013» and a PDF version of his briefing can be viewed/downloaded at the end of this short note. The paper considers the possible impact of immigration reform in the US on remittances and on the lives of migrants.

In 2013, family remittances to the region experienced little growth for most of the major remittance recipient countries. This may be a byproduct of immigration controls and deportations, demography, regulatory constraints and a slow recovery from the recession. Remittances have not grown substantially from 2012 and the total volume to the region was 60 billion, slightly decreasing by 1%. Manuel divides the results for the year in three groups: