Rising US unemployment is reducing remittance flows to Latin America

“Remittances to Latin America - a key revenue source for several countries in the region - are slowing down, due to factors such as unemployment growth in the United States as well as tightened immigration enforcement.

“Hispanic unemployment has begun to rise in the past few months, and we believe that this will have an ongoing negative impact on the growth of remittances,” U.S. investment bank Bear Stearns says in a new report on remittances to Latin America.”

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