IDB: Remittances sent to Latin America and the Caribbean on the upswing

Remittances sent to Latin America and the Caribbean grew less than 1 percent in 2012 but showed larger increases in countries more dependent on money sent home by migrants living in the United States, according to an Inter-American Development Bank study released Monday. Last year, the region received $61.3 billion in remittances — the money sent by migrants to sustain family and friends in their homelands. That’s $300 million, or 0.6 percent, more than in 2011. The tally doesn’t include countries, such as Cuba, which aren’t IDB members