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Remittances to Latin America and the Caribbean and the effects of the COVID19 pandemic: 2020-2021


The pandemic that hit the world since the first months of 2020 also affected the remittances received by the countries of the Latin American and Caribbean region, showing strong decreases at the beginning of the second quarter of that year that, however, thanks to the elements that analyzed in the document, during the following months it was reversed and became a vigorous annual growth of 18.2% at the end of the year, which served as support to alleviate the effects of the pandemic among families in the countries receiving these resources.
The document also analyzes the behavior of the first half of 2021 and how the economic recovery of the remittance-sending countries is generating improvements in the sending of remittances, which allows forecasting even higher growth, between 17% and 22%, for the end of this year.