News From the Border

Providing the news from a different front but from a war that we must win as well! I recognize the poverty and desperate conditions that many Latinos live in. We, as the USA, have a responsibility to do as much as we can to reach out to aid and assist spiritually with the Gospel and naturally with training, technology and resources. But poverty gives no one the right to break the laws of another sovereign nation.

Saturday, October 21, 2006

Latin Americans send $60B home

Chances U.S.-generated cash will spur growth there called limited
The Associated Press
Published: 10.19.2006

Latin Americans working outside their countries will send $60 billion home this year, a 12 percent increase over 2005, the Inter-American Development Bank said Wednesday.

Bank officials who have studied the flow of money since 2000 said the potential for the money fueling development south of the border is limited.

The estimated 30 million families receiving the money across Latin America usually have limited access to banks and other means of saving, and they mostly use the cash for necessities such as groceries.

To aid that effort, the Mexican government last week announced a renewed push to offer loans for immigrants in the United States to build houses in their native Mexico, in hopes of persuading them to return home eventually and meanwhile to create jobs in Mexico.

The bank reported that Latin Americans sent $53.6 billion home in 2005, with Mexico receiving the biggest chunk, $20 billion, followed by Brazil with $6.4 billion.

posted by missionaryman | 9:11 AM

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