2001News

Remittances increase 10% despite US economic slowdown

El Caribe newspaper reports that despite the slow down of the United States economy, money transfers have not declined. Rather, they are up 10% on average over the past four months, according to Freddy Ortiz, president of the Association of Remittance Companies. Ortiz estimates Dominicans living abroad send back about US$1,500 million a year. “Dominicans …