Summary
President Trump's immigration policies are affecting the global flow of remittances, the money immigrants send back home. This change is disrupting the economies of developing countries that rely heavily on these funds, such as those in Central America.
Key Facts
- The Trump administration has reduced spending on international aid and development.
- Immigrants working in the U.S. send significant amounts of money back to their home countries, known as remittances.
- In 2022, immigrants in the U.S. sent nearly $80 billion in remittances.
- Some countries are experiencing a drop in remittances, while others are seeing a temporary increase.
- Countries like Honduras, Nicaragua, El Salvador, and Guatemala rely heavily on remittances, making up 20% to 27% of their economies.
- Reduced immigration and increasing deportations could lead to a future decline in remittances.
- This decline may have major economic impacts on countries that depend on these funds.
