Brazilian Expats Send US$ 6.4 Bi Home, Same as Soybean Exports

    The Inter-American Development Bank (IADB) wants to encourage people who receive money from relatives who live abroad to make investments and help create jobs in their own countries.

    According to the IADB’s data, Latin America and the Caribbean received a record total of US$ 53.6 billion in 2005, 17% more than in 2004. The money was sent by Latin American emigrants who mostly work in the United States, Japan, Portugal, and England.

    The figures were made public, in Belo Horizonte, last month, in the Brazilian Southeast, during a seminar on remittances and microcredit and the impact of the Latin American banking industry, during the IADB’s 47th Annual Meeting in that city.

    Brazil appears second in the ranking of Latin American countries that receive the most foreign remittances. In 2005, Brazilians working abroad sent US$ 6.4 billion home, 14% more than in 2004. This sum is equal to the revenues generated by last year’s soybean exports.

    Mexico continued in first place, with more than US$ 20 billion in remittances in 2005. For the coordinator of the IADB’s remittances program, Pedro Vasconcelos, these statistics will help in the preparation of policies to propel the economies of the foreign workers’ countries of origin.

    The idea, he explained, is for banks to provide incentives, such as savings accounts and credit lines for micro-firms, in exchange for receiving deposits.

    Through the Multilateral Investment Fund, the IADB will give backing to a Brazilian Federal Savings Bank program, in conjunction with the SEBRAE (Brazilian Micro and Small Firm Support Service), to stimulate savings accounts using remittances received from abroad.

    Agência Brasil

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    • Show Comments (8)

    • brian strachan

      Mr
      I’m a Gringo, and I have a Brasileiro shine my shoes every morning. He does a very good job too.

    • Guest

      there are MANY brazilian, cuban, mexican RICH people in the U.S., and they certainly didn’t “arrive” that way. Ever been to Miami??

    • Guest

      WTF only fudidos are expats. I have never seen a smart guy leave this beautiful land to become a gringo’s shoeshiner in the World Trade Center

    • Guest

      My shoes are muddy and my back is wet, but I made it to LA and now i’m set.

      Food lines long but I dont care, I go to front dispite their stares.

      Need a car I no buy, I take one cause the price is high.

      I sleep in bushes and abandoned cars, while Americans rot behind armed bars.

      Right wing zealots scream a lot, say people like me create have nots.

      I’ts not business or concern, you right wing bigots need to burn.

      I just take back what you stole, while your ancestors were prospecting for gold.

      Your future is a taco shop, burritos until your assholes pop.

      Mexico is stupid place, just like white man just in case, you think I let you send me back, I make you have a heart attack.

    • Guest

      I come to America, get treated regal
      So I stay, who care, I illegal

      I cross the border,poor and broke, take bus
      see customs bloke

      Nice man treat me good in here
      say I need to see welfare

      Welfare say, you come no more
      we send cash right to your door

      Welfare checks, they make you wealthy
      medicade it keep you healthy

      By and by I get plenty of money
      Thanks to you American working dummies

      Write to friends in mother land
      tell them come, as fast as you can

      They come here, we live together
      more welfare checks, it gets better
      fourteen families moving in.

      They come in rags, chebby trucks
      buy house with welfare bucks

      We have a hobby, it’s called breeding
      Welfare pay for baby feeding

      Kids need dentist, Wife need pills
      We get free, we got no bills

      American crazy! he pay all year,
      To keep welfare running for us all year

      We think America darn good place
      Too darn good for the white man race

      If they no like us, they can go,
      Got lots of room in Mexico

    • Guest

      Did you catch sight of the illegals protesting legislation that might put a stop to their good thing!

      There is no way they would let Americans do this in their country!

      Wake up Americans!

    • Guest

      Yeah I have to agree with that. Imagine if Americans were sending 6 billion out of Brazil. . . I would love to see Mexican immigrants turn south and start making their way to Brazil to take jobs.

    • Guest

      fucking hilarious when you hear ANY latino bitching about America!

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