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Re: Remittances are 24.5% of Guyana's GDP

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05 Aug 2011 22:27 #44625 by chairman
Remittances from family members working in the U.S. constitute a significant portion of the GDP in many Latin American countries. In Haiti, remittances compose a record 30 percent of GDP, followed by Honduras (25.6%), Guyana (24.5%), Jamaica (18.5%), and El Salvador (18.2%). As a whole, Latin America receives USD 58.9 billion every year, dwarfing both U.S. FDI (USD 19.2 billion, 17% of total) and foreign aid (USD 448 million) to the region combined. While remittances do not ultimately solve economic deficiencies in these countries, many families rely on them to survive. These payments also help families send their children to school, obtain better healthcare, and improve their homes. Complementing direct cash payments to family members, cross border organizations, known as Home Town Associations (HTA), link immigrants to their home communities by creating communal funds to improve local infrastructure and undertake development projects. Moreover, remittances create an even larger economic and social community throughout the Americas, held together by a circular flow of people and money.

cohaforum.org/2011/08/0...es-to-latin-america/

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06 Aug 2011 03:02 #44630 by Watooka
The problem with that information is that Guyana is not part of Latin America. Neither is Haiti.

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06 Aug 2011 10:40 #44635 by chairman
it should be

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08 Aug 2011 12:14 #44764 by chairman
what an amazing stat

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08 Aug 2011 12:17 #44767 by Kwami
no , it is not , it creates  a culture of dependency and lazyness.

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08 Aug 2011 12:18 #44768 by chairman
thats been going on since 1968..

didnt u send barrels to yours?

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08 Aug 2011 12:23 #44773 by Kwami
times were different with  dictatorship and all.

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24 Apr 2023 14:31 #400290 by chairman
i wonder how much it is now?

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