Monday, 19 April 2010

Remittances on the Rise in El Salvador

For the first time since October 2008, remittances from Salvadorans living abroad are on the rise. The Salvadoran Central Bank reports that Salvadorans in the U.S. and other countries sent family members $343.2 million in March 2010, up 8.7% from March 2009.  In the first quarter of 2010, remittances totaled $848.4 million, up 0.60% from the same period last year.

The Latin American Herald Tribune reports that 240,000 Salvadorans live and work under the Temporary Protected Status (TPS), and send money to their families back home. Another 2.25 million undocumented Salvadorans live and work in the U.S. and contribute to the family finances. Read more

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