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 over there prefer to stop eating before letting their family in Santo Domingo go hungry.” He said the increase in the cost of living in the DR could be the reason for the increase in the money immigrants are sending back home. Victor Mendez Capellan, president of Western Union in the DR, forecasts a 30% increase this month. He said they saw a 20% increase in April. <\/p>\n","protected":false},"excerpt":{"rendered":"
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 … <\/p>\n