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EconomicsEl SalvadorLetters to the EditorUnited States

RE: Remittances to El Salvador Continue to Increase

COHA
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Dear Editor,

In the article, “Crecen remesas de salvadoreños en EE.UU.” (El Tiempo Latino, Jan. 19) the author explores the continual increase of monetary remittances sent to El Salvador by family members in the United States. The article states there has been a “58.2 million” dollar increase in funds being sent to El Salvador in 2013 compared to previous years. The author highlights that, “The Central Bank report noted the increase in remittances was favored by an improvement in the overall unemployment rate in the U.S. economy” [1]. The article did not explore the effects of remittances on El Salvador’s economy. Overall, they have led to an increased dependence on monetary assistance from family members residing abroad. This has led to limited technological innovation from within the country as well as hindered the El Salvadoran economy from creatively investing in their industrial sectors. According to the CIA’s World Fact Book, the exports of goods and services composed 28.2 percent of El Salvador’s GDP for 2013 [2]. Investment into the El Salvadoran economy would thereby decrease dependence on remmitances from abroad perhaps leading to prosperity for a larger percentage of the population. Salvadorans should continue working to lessen economic disparity from within the country, instead of relying solely on external sources.

Sincerely,

Kathleen Tolentino, Research Associate at the Council on Hemispheric Affairs

In response to El Tiempo Latino: Crecen remesas de latinos en EE.UU. (Remittances to El Salvador Continue to Increase).

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[1] “Crecen remesas de salvadoreños en EE.UU.” El Tiempo Latino. 19 Jan. 2014. Web. 22 Jan. 2014.

[2] “Central America and Caribbean: El Salvador.” The World Factbook. 2013-14. Washington, DC: Central Intelligence Agency, 7 Jan. 2014. Web. 22 Jan. 2014.