Remittances to Latin America and the Caribbean set a new record high last year, at a total of $65.4 billion, the Inter-American Development Bank revealed Tuesday.
Cuba, in particular, is in the spotlight as new U.S. policies permit an influx of remittances and as U.S. investment in the Caribbean island nation begins to take root. Development actors are watching to see how these capital flows will affect the Cuban economy — and how they might leverage them to maximize development impact.
Donor agencies have a role to play in making sure remittances reach more people at lower costs, according to Dan Runde, director of the project on prosperity and development at the Center for Strategic and International Studies.
Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).
About the author
Claire Luke
Claire is a journalist passionate about all things development, with a particular interest in labor, having worked previously for the Indonesia-based International Labor Organization. She has experience reporting in Cambodia, Nicaragua and Burma, and is happy to be immersed in the action of D.C. Claire is a master's candidate in development economics at the George Washington Elliott School of International Affairs and received her bachelor's degree in political philosophy from the College of the Holy Cross.
