OCR Text |
Show The Salt Lake Tribune NATION/WORLD ° Al7 Sunday, November 24, 2002 Latin American Immigrants Send Cash Home, DespiteUS.Economy GANNETT NEWS SERVICE WASHINGTON Despite the downturn in the U.S. econ omy in the past two years, mil lions of Mexican and Central American immigrants in the United States continue to send billions of dollars annually to relatives in their native coun. tries, a report released last week shows. The flow of money shows no sign of slowing down, says the report by the nonpartisan Pew Hispanic Center and the InterAmerican Development Bank. —_ The amount IM UTAH that of money immi Weak social safety grantsin the net threatens immigrants 8-§ United States send home each ye year is projected to hit more tan $18 bil lion by the end of 2006. This year, the amount of remittances is expected to top $13 billion, according to the report, which based its numbers on data collected by the region's central banks. Countries in Latin America feceive more in remittances than any other region of the world. The Inter-American Devel opment Bank, whose mission is found human bond between Mexican Migrants’ Hometowns Fight Over Howto Spend Money The United States is home to bring members of the club in Los Angeles can- GANNETT NEWSSERVICE more than 31 million foreign born residents, including 16 million born in Latin America About 8 percent of Latin American immigrants come from five countries: Mexico, E! Salvador, Guatemala, Hondu. ras and Nicaragua Suro said reducing transac tion costs could free up more JALPA, Mexico Former residents of this Mexican town who moved to Los Angeles thought they were doing their friends and relatives in Mexico a favor when they formed a charitable “home- town club” and raised $2 million that they sent back to Jalpa. Members of the Hermandad ee or Jalpense Brotherhood than $1 billion each year for the money used to build a church, Seodd computers to the Jalpa town library and expandfacilities at a school. But Jalpa Mayor Fernando Diaz Alonso had other plansfor the money. He wanted to spend it renovating the Le obardo Reynoso schoolnear City Hall. immigrants in the United States, making them the largest immigrant group here, the latest census figures show. Those conflicting priorities led to a rift 13,500 in the state of Zacatecas. When the dollars raised in the United States from between those running this impoverished Mexican communityand the expa- triates in the United States. Ultimately, bined with pesos back in Mexico, they “Costs per transaction have ment throughout Latin Ameri ca, is using the report to draw been reduced in recent years, mittances on the region. Bankofficials are especially concerned with the high cost of sending remittance money fromthe United States to Latin America. The average costis 15 percentper transaction. “Everybody thinks it’s magnificent,” said Primitivo Rodriguez, a political analyst in Mexico City. “But it’s a car with four steering wheels.” beauty contests and dances are com- to promote economic develop attention to the impact of re- ame thine on governmentresponsibil ities, such as building schools. Migrantdollars run Jalpa, a town of but not enough,” said Enrique V.Iglesias, the bank president. Roberto Suro, executive director of the Pew Hispanic Center, said the large number of Latino immigrants in the United States and hard economictimes in Latin America have turned remittances — and that is drawing the attentionof major banks. “Not long ago, this was a cottage industry in which cash a TT raya aT money home to relatives abroad. The survey was con ducted by Sergio Bendixen, a prominent Latino. pollster based in Miami. Although notscientific, the survey revealed that most im migrants sentfrom $100to $300 each month. Gastric Bypass TS£4 With a newgasfireplace insert or gas stove you'll enjoy yourfireplace year round... even on “No Burn Days”!!! was i Leperpani across borders,” he Hs ao oakthe growi remittances reflects the “pro- some of the poorest households in the United States, Mexico and Central America. The report included results of a separate survey of 302 im migrants in Los Angeles and Miami who regularly send Without the Wait e Board certified physician has performed more than 1,800 bariatric surgeries for morbid obesity, including over 500 laparoscopic bypass procedures Personalevaluation and managementby operating surgeon ¢ Privacyin the serene environmentof Jackson Hole and the Grand Tetons Long-term follow up in your locale For more n iormation call 307-739-7380 * Lifetime Limited Warranty ¢ Up to 99.9% Energy Efficient © Operates During Power Failures www.tetonhospital.org 12 MONTHS SAMEAS CASH NO INTEREST- NO PAYMENTS ersom, 7> e ©= Air cana 972-1900 Weber/North 334-5400 County 356-2600 You'Re Invited ces T0 place YOUR ee wedding announcement FREE 1380 S. Main Street (00) 486-7255 TAYLORSVILLE 3065 West 5400 South (0) 486-7255 PUBLISHING SUNDAY, JAN.19 in the Deseret News and The Salt Lake Tribune os The pirst of three bridal guides publishing m 2003, @=> Future bridal guides publish Sunday, May 4 and Sunday, Sept. 8 Sanpy 858 East 9400 South (0) 486-7255 COLLEGE College Centar, #34 (0) 957-4337 4600 S. Redwood Rd UeTOWN 451 S. State Se, #421 oo) 535-7150 Main Terminal, #226 0) 575-2360 Newspaper Agency Corporation Tirfake Deseret News fuged Fasoetel + Member NCUA 4.99:. You deserve the year’s best Tate on auto loans! Finance your 1998 or newer car through Salt Lake City Credit Union at a rate as low as 4% FIXED APR for up to 60 months. Get pre-approved at your branch or on-line using WebLoonApp at siecu.org PERCENTAGE RATE. Raves are watfect to change. Higher rates may apply based on cred. term of town. and year of vehicle purchased All loane subject to credit approval. Call for other rates and terms. Special rate offer wvallable through 12/31/02 SALT LAKE CITY CREDIT UNION www.slocu.ong Selllake (ty GadiUni Tha Goer Place! wiainiae Open TO Att Resipenrs oF Sart LAKE Counry |