growth

Caribbean saw ‘most rapid’ growth in remittances last year – World Bank

Create: 04/16/2016 - 03:53

WASHINGTON, United States (CMC) – While remittances to developing countries overall edged up slightly in 2015, the World Bank says among geographical regions, Latin America and the Caribbean saw the “most rapid” growth rate in remittances in 2015.

On Wednesday, the Washington-based financial institution said the region’s 4.8 per cent growth was due to the recovery in labour markets in the United States.

The bank said growth in Latin America and the Caribbean is expected to continue in 2016, albeit at a slower pace.

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