Immigrant workers are sending more money than ever to their families in Latin America, but two new studies show that only a small portion of the billions of dollars directed there has gone to economic development.
A report released by the Inter-American Development Bank estimates that immigrants living in the United States will send $45 billion to family members this year, representing a steady increase from about $2 billion in 1980. That money, known as remittances, is five times as large as official development assistance to Latin America and the Caribbean.
