[Excelsior, Mexico]

El Tiempo, Colombia

U.S. 'Xenophobes' Celebrate Drop in Remittances

"And that doesn't imply, as anti-immigrant groups say, good news for those seeking to restrict the flow of migration … when the economies of Latin America enter into a major crisis, the only escape valve will once again be immigration."

By Sergio Muñoz Bata

Translated By Barbara Howe

May 6, 2008

Colombia - El Tiempo - Original Article (Spanish)

As if the protagonists weren't human beings who has separated themselves from their families to try and build a better future, the news that cash remittances from Latin American immigrants to their impoverished families back home are declining has been cause for celebration in xenophobic circles in the United States.

To the leaders of the Center for Migration Studies  which advocates for the expulsion of undocumented immigrants and the drastic reduction of legal migration into the United States, the plight of immigrants only confirms the success of the tougher state and federal immigration policies.

According to the latest Survey by the Inter-American Development Bank , carried out by Bendixen and Associates, the spectacular growth in remittances between 2001 and 2006, which went from $15 billion in 2001 to $45,000 billion in 2006, slowed in 2007. Last year, Latin American immigrants sent home barely one percent more than in 2006 ($500 million more).

The survey found that the number of immigrants who sent money home dropped from 73 percent in 2006 to 50 percent today; whereas, according to 81 percent of those surveyed this year, it's more difficult to find well-paying jobs. Sixty one percent of Latinos who have become citizens and 66 percent of those who are legal residents feel that discrimination against them has increased, and that the suspension of remittances is due to the fear of unemployment.

The decrease is bad news for Latin America and weighs heavily on the some 3.2 million families who will no longer receive money from relatives in 2008. The effect is that about 2 million families (some 10 million people) could again sink below the poverty line. And that doesn't imply, as anti-immigrant groups say, good news for those seeking to restrict the flow of migration, since if the U.S. economy continues to deteriorate, the effects will be felt throughout the region. And when the economies of Latin America enter into a major crisis, the only escape valve will once again be immigration.   

Posted by WORLDMEETS.US

A third of those interviewed said they were considering returning to their home countries, but 69 percent said that their current situation is good or excellent compared to what they could expect back home. And if the economic situation worsens Latin America, instead of thinking of going home, they are more likely to bring brothers, cousins and friends in order to keep their remittances at acceptable levels.

Let us not forget that in Mexico, remittances are the second largest source of foreign reserves, after petroleum and before tourism; in El Salvador they account for 17 percent of gross domestic product; in Colombia they equal 84 percent of petroleum exports; in Ecuador they are the second largest source of foreign income - after petroleum; in Peru they exceed the income from tourism and all agricultural exports; in Bolivia they were twice the income from tourist in 2004 and in 2005 they equaled 87 percent of natural gas exports.

The most lamentable part of this is that there are people who rejoice at the plight of the millions of poor people in the Western hemisphere.

CLICK HERE FOR SPANISH VERSION

[Posted by WORLDMEETS.US May 7, 4:38pm]