Remittances as a Vital Tool for Economic and Human Security in Latin America 1

ABSTRACT

While a wide range of extensive literature deal with migration as a security concern, much less attention is aimed at migrant remittances regarding security. However, vulnerable communities in developing regions such as Latin America tend to rely upon the sum of money received from migrants working abroad. In the shadow of the Covid-19 pandemic, it has again become apparent that migrant related monetary remittances play a vital role in disaster relief. In this paper it is argued that remittances have been a crucial tool for economic and human security in Latin America especially during the pandemic. Examining primary and secondary statistical sources, the analysis also tries to find explanations for the resilience and increasing volume of cross-border remittances with regard to the Latin American region, exceeding earlier estimates to a great extent.