September 15, 2010

More money being sent back to region

WASHINGTON – After what was considered to be a “rough 2009”, the World Bank says remittances are on the rise again in the Caribbean.

A briefing paper by the Washington-based financial institution said remittances “began to bottom out during the last quarter of 2009” and, as a result, “money transfers now appear to be on the rise” in Jamaica, Haiti and other places.

The briefing paper said remittances to Latin America and the Caribbean didn’t fall as sharply as private capital flows to the region, as investors pulled out of emerging markets.

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