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Fewer Latino Immigrants Sending Money Home – Only 50 percent of some 18.9 million Latino immigrants in this country now send money regularly to relatives in their home countries, compared with 73 percent two years ago, the survey found. From: nytimes.com
Tagged: latin america, money transfer, remittancePosted on: April 30th, 2008
More than three million Latin American immigrants in the United States, responding to the economic downturn and new uncertainties about their future, have stopped sending money home to their families in the last two years, according to a survey released on Wednesday by the Inter-American Development Bank in Washington.
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The drop in the number of people sending remittances, as the money transfers are known, is a sign of pressures on Latino immigrants as a result of the slump in the low-wage job market and of the Bush administration’s crackdown on illegal immigration, the survey shows. Of the immigrants interviewed, 47 percent said they did not have legal status. The others were American citizens and legal immigrants.”*
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