Manuel Orozco, member of the Financial Services Advisor board and director of the Migration, Remittances and Development Program at the Inter-American Dialogue: “Uncertainty, declining migration and the fear of (and actual) deportation are three key forces shaping remittance flows in 2025. In the first quarter of this year, remittances increased by 7 percent, with Nicaragua, Honduras and Guatemala showing 20 percent growth. This unprecedented growth is attributed to fears among migrants regarding their ability to continue sending money to relatives in the future. However, this growth is unsustainable because migrants have reached their limit in economic capacity to send more money unless they dip into their savings. The trend for the rest of the year indicates 7 percent growth, largely because Mexicans are sending no more than 3 percent more remittances this year as compared to last year. In contrast, all other nationalities, even if they send 5 percent more over the next nine months, would average more than 8 percent growth annually. There are many uncertainties. First, declining…”