Manuel Orozco, member of the Financial Services Advisor board and director of the Migration, Remittances and Development Program at the Inter-American Dialogue: “Family remittance growth has continued a sustained 8 percent year-on-year increase since 2010, and 9 percent in 2023. The growth this time is significant in so far as the volume accounts for 4 percent of the region’s GDP, and as large as 30 percent of GDP for Nicaragua, which for the second consecutive year will grow at 50 percent relative to 2022. The importance of these flows is considerable to the region’s economic activity, particularly for any country where flows are more than 5 percent of households in the homeland because. These inflows increase disposable income which lead to local consumption and investment. The impact is fundamentally critical for ‘conflict’ countries, like Venezuela, Nicaragua, Haiti, Cuba, El Salvador, Honduras, Guatemala and Bolivia, which exhibit poor economic and political stability and have produced a large outflow of people over the past six years, at times when…”