Remittances to Latin America Booming
Forbes carries a Reuters story about the record $38 billion in remittances sent home to families last year by Latin American and Caribbean families working abroad.
The average cost of sending 200 dollars from the United States to Latin America was 7.9 percent, the IADB study showed. Ecuador was the cheapest at 5.4 percent and Cuba the most expensive, at 12.1 percent. Even though the cost is half of what it was five years ago, officials say it must be cut more.
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