Growth in remittances to Latin America tied to state fragility
More than $65 million in remittances were sent back to Latin America and the Caribbean last year.
Latin American countries that find themselves in situations of internal strife saw the largest growth in family remittances last year, according to a report.
The Inter-American Dialogue, a U.S.-based think tank, published findings which said Latin America and the Caribbean saw a six percent increase in remittances in 2015. The dollar figure amounted to more than $65 billion.
Countries that saw the largest growth in remittances were Guatemala (15.2 percent), Colombia (13.3 percent), Haiti (11 percent) and Honduras (10.9 percent). These are countries that over the last few years have experienced conflict and extreme violence. Just as an added statistic, remittances to Mexico grew 4.8 percent.
The report finds that there is a correlation between the growth in remittances and indicators of state fragility. When comparing their findings to the Fund for Peace index of state fragility, there is an upward trend that shows in general countries that are higher on the index tended to have the most growth in remittances.
The report also found that a correlation existed between the growth remittances and another index from the Fund for Peace which looked at the factors driving migration. They found a similar upward trend.
Some extra information: According to a press release from Colombian politician Ana Paola, Colombian women abroad sent 51 percent of the remittances sent to the country last year.