The Dominican Republic is the fourth largest market for remittances in all of Latin America. The Listin Diario reports that 1.4 million Dominicans sent US$2.7 billion back home in 2004. Only Mexico, Brazil and Colombia receive more money than the DR. The information is contained in a report from the IDB. The report shows that only Jamaica and El Salvador have higher remittance-per person rates. Hoy newspaper reports that 38% of the Dominican population receives some remittance money. Much of the data was supplied by Sergio Bendixon, Leonor Suki and Pedro de Vasxoncelos during a conference on “Sending money to remittance houses in the Dominican Republic”, sponsored by the local IDB representative Moises Pineda.<\/p>\n
Diario Libre points out that most money is transferred through remittance houses rather than more formal banking institutions. Fully 84% of the US$2.7 billion comes through the remittance businesses in the US and Europe. Over half of the money comes from The United States and of the 21% that comes from Europe, over half of it comes from Spain, followed by Italy, France and Switzerland.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Dominican Republic is the fourth largest market for remittances in all of Latin America. The Listin Diario reports that 1.4 million Dominicans sent US$2.7 billion back home in 2004. Only Mexico, Brazil and Colombia receive more money than the DR. The information is contained in a report from the IDB. The report shows that … <\/p>\n