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CEMLA, IDB and the World Bank to launch an online comparison price tool for Central American remittances

Tool and price analysis for six Central American countries to be presented during breakfast meeting on Feb. 2 at the National Press Club in Washington D.C. Event to be webcast.

The Center for Latin American Monetary Studies (CEMLA), the Multilateral Investment Fund, member of the IDB Group, and the World Bank will hold a breakfast meeting to launch an online remittance price comparison tool for Central America and the Dominican Republic. They will also present an analysis of remittance prices based on this new public-service site.

The tool, created to provide greater transparency in remittance markets for Central America and the Dominican Republic, provides information about prices for different remittance services providers, such as fees and exchange rate costs, allowing remittance senders and recipients to take more informed decisions on how to send money back home.  In the last quarter of 2011 alone, Central American and Dominican migrants paid more than $200 million in fees and commissions to send money to their families.

The event is by invitation only. Media interested in covering should register by sending an email to Romina Nicaretta at the IDB at Rominan@iadb.org or to Marcela Sánchez-Bender at the World Bank at msanchezbender@worldbank.org.

WHAT: Launch of online price comparison tool for Central American remittances

WHEN: Feb. 2 from 8:30 a.m. – 10:30 a.m.

WHERE: Fourth State Room, National Press Club

               529th Street Northwest, Washington D.C., 20045

WHO:

  • Paloma Monroy, remittance program coordinator, CEMLA
  • Natasha Bajuk, remittances specialist, Multilateral Investment Fund
  • Felipe Jaramillo, director for Central America at the World Bank

LANGUAGE: The event will be in Spanish with simultaneous translation into English.

The general public will be able to view the webcast of the event in the following links:

http://www.iadb.org/

http://envivo.bancomundial.org/