The Inter-American Development Bank says Caribbean countries will receive US$18.4 billion in remittances, with a two per cent growth, similar to that observed in 2023.
The IDB is projecting that remittances to countries in Latin America and the Caribbean will reach a historic high in 2024 despite growing at their slowest pace in 10 years.
The IDB said remittances are returning to levels of increase prior to the exceptional growth they showed during the COVID-19 pandemic.
It said if the trend continues, the region will receive US$161 billion in remittances in 2024, a five per cent increase compared with 2023.
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