Seminar: Remittances transfers to Latin America and the
Caribbean, Issues and perspectives on development
July 22, 2004
Washington DC
On July 22, 2004, at the
Organization of American States in Washington, DC, the
Summits of the Americas Secretariat held a seminar,
“Remittances in Latin America and the Caribbean: Issues
and Perspectives on Development”, in the context of
monitoring Summit implementation.
At the Special Summit of the
Americas in Monterrey, México held on January 12-13, 2004,
Heads of State and Government signed the Declaration of
Nuevo Leon, in which they made the commitment to work
together to eliminate regulatory obstacles that affect the
cost of these transfers and to reduce their average costs
by at least half by 2008.
In this context,
the Summits of the Americas
Secretariat of the OAS contracted a paper on the issue
from Georgetown University specialist Manuel Orozco.
Issues addressed at the seminar included: an analysis of
the present remittances market; the growing demand for
transfer services; social, cultural and economic
consequences of remittance flows; consumer education for
the users of transfer services; options for regulation and
incentives to encourage lower costs and more accessible
services for low income customers; and examination of
specific country cases. Overall, the discussion reflected
the leaders’ goal of linking remittances to successful
development.
The discussion panel included:
Carla Decker, CEO District Government Employees Federal
Credit Union; Ernesto Armenteros,
President Grupo
Quisqueyana / Cashpin, in Dominican Republic; Héctor David
Córdova Arteaga, Manager FEDECACES, El Salvador and Maria
Otero, President Acción International. Ambassador Abigaíl
Castro de Pérez, Permanent Representative of Salvador to
the OAS closed the panel which was moderated by Dr. Irene
Klinger, Executive Secretary, Summits of the Americas
Secretariat.
More
than seventy participants attended this event
which included representatives from financial institutions
such as banks, financial associations, embassies, civil
society organizations and academics, Drawn from the local
community as well as from New York City, Atlanta, Miami,
Newark.
Comments
by Daniel I. Ayala,
Senior Vice President, Well Fargo BankCross Border Payments Manager
Presentation by Ambassador Abigail Castro De Pérez,
Permanent
Mission of El Salvador to the OAS
Here
some pictures from the event:
|
Irene Klinger, Executive Secretary Summits of the
Americas Secretariat |
Manuel Orozco, Senior Researcher, Georgetown
University |
Carla Decker, President/CEO District Government
Employees Credit Union and Ernesto Armenteros, CEO,
Quisqueyana, Inc., Dominican Republic |
The Panel: Irene Klinger, Carla Decker and Ernesto
Armenteros |
Héctor David Córdova Arteaga , Manager, FEDECACES, El
Salvador and Maria Otero, President, Accion
International |
Ambassador Abigaíl Castro de Pérez, Permanent
Mission of El Salvador to the OAS |