Remittances are a major source of income for many Latin American countries. What are remittances?

Question

Remittances are a major source of income for many Latin American countries. What are remittances?

A.
funds that the US government invests in Latin American businesses

B.
revenue generated from exporting agricultural goods from Latin America

C.
cash grants awarded by Latin American governments to their poorest citizens

D.
money that Latin Americans living abroad send home to their family and friends

Answer 1

The correct answer is D. Remittances refer to the money that Latin Americans living abroad send back to their family and friends in their home countries. This financial support is often used to cover basic needs and support the livelihoods of recipients. To find the answer to this question, you can start by understanding what remittances mean. Then, you can identify the options provided and choose the one that best matches the description. In this case, option D aligns with the definition of remittances.