WASHINGTON, United States - inflation and depreciation of the dollar affected the value of Latin American remittances, which have remained stable in 2010, 58,000 US $ 800 million, indicated the Inter-American Bank of development (IDB).
In 2009, the figure was 58 thousand 900 million dollars, below the record of 2008 when Latin America and the Caribbean received 69 thousand US $ 200 million, which shows the slow process of economic recovery after the crisis.
In its annual report released by the Multilateral Fund of investments (FOMIN), agency under the IDB, Mexico remains as the main recipient of remittances in the region with 21 thousand 271 million dollars, a figure slightly higher than 21 thousand 132 of 2009.
Below are Guatemala, with four thousand 127 million dollars, with the three thousand 912 2009; Brazil, four thousand 044 million; Colombia, four thousand 023; and El Salvador, with three thousand 540 million dollars, with three thousand 465.
Great changes have occurred in Haiti, which in 2010 saw soar remittances by 20%, to the thousand 971 million dollars, fruit of the diaspora produced by the dramatic earthquake.
While in Brazil fell 15 percent, as a result of the robust economic situation in the country, according to the report. "For many of these host families, 2010 was a year of increased economic vulnerability, as with the revaluation of the local currency and rising inflation remittances receiving did not have the same value as the previous year"It noted the report of the MIF.
On average, Latin American currencies were appreciated a 4.4 per cent, which has resulted in a reduction in the value of these remittances to "remain a vital source of income for millions of families" in Latin America and the Caribbean.
Higher assessments were lived in Brazil, where the real has strengthened against the dollar a 22 per cent; in Colombia, with an increase in the weight of 12.5 per cent and in Mexico, with an appreciation of the peso from seven per cent in 2010.
In addition, inflationary pressures in the region have damaged the value of received remittances, which added to the depreciation of the dollar has meant a loss of 8.7 per cent of the purchasing power altogether.
By regions, the MIF also highlighted that transfers of money to Central America, whose emigrants in the majority of cases is located in the us grew by 3.1 per cent.
However, in the Andean countries, more dependent on European economies, remittances declined a 4.1 per cent compared to last year. In this region, Colombia rose from four thousand 124 million from 2009 to four thousand 023 in 2010, Peru of two thousand 665 million to two thousand 534 million dollars, and Ecuador of two thousand 445 to 2,000 US $ 324 million. The Multilateral Investment Fund started studying remittances in 2000 to measure its impact on Latin America and the Caribbean.