Guyana’s Ambassador to Venezuela Odeen Ishmael says that during this year remittances to Latin American and Caribbean countries from the more developed countries will decline by US$4B from last year’s figure.
A reduction in remittances, he wrote, was already evident in 2008 and Guyana was listed as receiving US$414M as against US$423M the previous year.
According to Ishmael “migrants from Latin America and the Caribbean (LAC) living in the more developed countries will send back to their home countries US$64B in 2009.” The Ambassador pointed out, however, that this total represents more than the sum of foreign direct investment and official development aid combined. Read more here
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