Remittances as a whole are a vital part of financing in Latin America. Central America and Mexico typically receive remittances from the U.S., while South Americans are more likely to receive money from elsewhere in South America or Spain. Some countries have proved to be more reliant on remittances than others. For example, more than 30% of Haiti’s GDP comes from remittances and over 20% of the GDPs of El Salvador and Honduras.

Latin America saw positive growth in remittances during 2020, even though initial projections were not promising, but not every country in the region saw an increase. Countries like Mexico experienced a significant increase in remittance flow at 11%, but Bolivia and Peru both saw them fall by 22%. This series of webinars will cover remittances in Latin America in two parts: an overview of trends and the innovation in the region.