Brazil Wants an Easier Way to Send Money Back Home

One of the proposals of the Brazilian government, in New York, at a meeting attended by over 58 heads of state is to give special treatment to money sent by immigrants. The group formed by Chile, Spain, and France and led by Brazil wants the developed countries to adopt measures making it easier for foreign workers to have inexpensive access to financial institutions.

The group formed by Chile, Spain, and France and led by Brazil wants the developed countries to adopt measures making it easier for foreign workers to have inexpensive access to financial institutions


The idea is for immigrants not to have to pay a lot in taxes when remitting funds to their home countries.


“This money is normally used for basic expenses, such as food and housing, and therefore constitutes a secure, alternative sources of funds for developing countries,” states the report delivered at the UN meeting.

According to data from Brazil’s Ministry of Foreign Relations, there are currently over two million Brazilians living abroad, equivalent to more than 1% of the country’s population. Figures from the Central Bank show that approximately US$ 2.6 billion are transferred to Brazil every year.

For Maria Sargento, a Brazilian who has been living in the United States for six years, the money she sends to Brazil has the character of an investment. “I always send money to buy an apartment or a house,” she says.

On the other hand, for Antônio Carlos Almeida, who is 38 and has lived in the state of Connecticut for 15 years, the money he transfers to Brazil serves the family. “I have to help my parents and brothers and sisters,” he points out.

Agência Brasil
Reporter: Paula Menna Barreto
Translator: David Silberstein

Tags:

You May Also Like

Brazilian crowd

Brazil, a Nation Divided Between North and South, Middle Class and Masses

On October 29, Luiz Inácio Lula da Silva won the second round of Brazil’s ...

Brazil Markets Start Year Subdued

Brazilian equities began 2005 in a downslope performance, as investors booked some gains following ...

Fitch Sees Bright Future for Water and Sewage Companies in Brazil

According to Fitch Ratings, which has just released a special report entitled "Brazilian Water ...

Devon Starts Exploration of Brazilian Oil with 50 Billion Barrels Potential

US-based Devon Energy Corporation announced June 30 that it plans to proceed with development ...

Brazil’s Hydraulic Equipment Maker Soprano Has Eyes for Middle East

Brazilian company Soprano, a maker of metals and hydraulic equipment from the state of ...

US-based GXS Buys Brazil’s Interchange, a B2B E-commerce Firm

Interchange Serviços S.A., one of Brazil's largest, in-country providers of electronic data interchange (EDI) ...

Filling Potholes Is Not Enough. We Need to Change Brazil’s Direction

Even more than an occasion to evaluate the year that has passed, the New ...

Brazilian Cities Get Extra Loans from Inter-American Development Bank

The opening session of the 47th Annual Meeting of the Inter-American Development Bank (IADB), ...

Brazil’s GDP Grows to US$ 609 Billion Up to September

The Gross Domestic Product (GDP) of Brazil totaled US$ 609 billion in the period ...

Brazil Blames Airbus Manufacturer for Brazil’s Air Tragedy

Brazil's Air Force blamed Airbus for the recent tragedy in the São Paulo Congonhas ...