Are Remittances to Latin America Recovering After the Global Crisis?

Mexican migrants living abroad sent more money back home in April than they did in the same month a year earlier, the Bank of Mexico said June 1. The year-on-year increase was small, less than 1 percent, but it was the first annual increase in 17 months. The report also said remittances to Mexico from January through April amounted to $6.6 billion, an almost 9 percent decline from the same period in 2009. Are remittance flows to Mexico and the rest of Latin America recovering? How important are the flows to economic recovery in the region? What is needed for a sustained recovery in remittances?

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