Despite all, remittances grew by 11%, thanks to Bolivians abroad!

This is from today’s Pagina Siete:

In the first ten months of the year, remittances received by relatives of residents abroad grew by 11%, compared to similar period of 2010, according to data of the Central Bank of Bolivia (BCB).Until October they reached $853,9 million dollars, while in countries such as Spain there is an economic crisis.

Nearly half of the money wires come from that country. $421 million dollars were sent due to the important mass of Bolivian workers who decided to emigrate to Europe.

The second source is the United States with 16.3%, Argentina with 15.7% and 2.3% Brazil.

Santa Cruz is the main destination of those shipments from abroad, because the relatives received 42% of those remittances until October.

Then there is Cochabamba with 27.8%, La Paz with 14.8% and the six remaining departments receive the remaining balance of 15.4%.

Remittances of Bolivians who work outside the borders of the country are more than half of the oil/gas income raised by October 31st, since 50% of the value of the marketing of natural gas totaled 1,599 million dollars.

The United States and European countries support high unemployment rates.

Kudos for those hard-sacrifized-Bolivian-workers!!! Despite the fact of living in economies with high rates of unemployment; having to endure any-day-deportation they honor their commitment to their families! I just hope those families do give proper respect and love to those men and women who had to flee this country in search of jobs to provide for their families.

The comparison with oil/gas revenues shows how big and important those flow of funds are for Bolivian families and economy. They are over 50% of those public revenues. BUT go directly to the needs of those families.

I have nothing more than respect to all those individuals. They only show that under harsh living/working conditions, they still manage to send money to their loved ones. They may spend Christmas alone out there but their hearts and money will keep their families back home a little happier. I also empathize with those kids who have to grow without their parents and may at time resent that, or make those parents feel bad about their situation. I hope God gives both sides the strength to endure this temporal separation.

This is clear proof of how Bolivians can work and deliver!!! If only our country could generate more real/permanent jobs, if there would only be enough incentives to generate small businesses and governmental red tape would be cut to the minimum. Those incoming funds could have a multiplier effect in our economy.

Published by Bolivian Thoughts

Senior managerial experience on sustainable development projects.

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