Remittances have played a fundamental role in the external accounts of most of the Latin American economies. However, its role has not always been countercyclical. During the global financial crisis, remittance flows fell 12.8%. However, their behavior has been surprisingly positive during the current crisis.
To discuss the causes, characteristics, and effects of remittance flows to Latin America during the current crisis, we convened a recognized group of experts from international organizations, central banks, academia and think tanks.