Remittances to low and middle-income countries are expected to increase 0.8 percent to $442 billion IN 2016. The modest recovery this year is largely driven by increases in remittances sent to Latin America and the Caribbean.
St. Vincent and the Grenadines received USD 32 million in remittances from its nationals overseas so far this year, according to the World Bank data, to land it at third on our Top 5 list. This was an increase of 4.2 percent from last year.
Latin America and the Caribbean saw remittance flows into the region increase in the first half of 2016, due mainly to a recovering U.S. economy. Remittances to the region are expected to grow by 6.3 percent and reach $72 billion by the end of 2016.
Remittance flows or money transfers from migrants overseas continues to be a big part of foreign capital inflow into the Caribbean.
SVG Received US 32 Million Dollars In Remittances For 2016 So Far
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