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Haiti: Remittances Take a Hit After Earthquake
The Associated Press
Haiti's banks have been closed since the January 12 earthquake, leaving people with few options to obtain much-needed cash. Cash transfers worth nearly US$1.9 billion annually have slowed to a trickle as companies struggle for access to currency and scramble to open locations damaged by the earthquake. Companies are also temporarily waiving transfer fees.
More than one-third of Haitians receive cash from overseas, according to a recent Inter-American Development Bank (IDB) survey. The average remittance to a Haitian is about US$1500 a year.
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Posted: 22 Jan 2010
Source: New York Times
Originally Published: 20 Jan 2010
Related Links:
Haiti: MFIs Respond to Earthquake
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