For another look at how the European economic crisis is hitting South America, check out today's IDB report on remittances. The study found that while remittances were up slightly (0.6 percent) in Latin America and the Caribbean during 2012, inflows were down 1.1 percent in South America.
Look at the full report here, or my colleague Mimi Whitefiled's story here, but, in short, the study shows that regions that rely on the U.S. for remittances were faring better than those that rely on Spain and Europe.
In Central America, for example, remittances were up in every country. In South America, they were down in eight out of 12 nations.
The top receivers in SouthAm were Colombia ($4.1 billion), Peru ($2.8 billion), and Ecuador ($2.5 billion.)