MEXICO CITY (AFP) - Money sent home by Latin American emigrants fell seven percent in the first quarter, in a slowdown on the freefall seen last year, the head of the Inter-American Development Bank said on Thursday. Remittances received in the region between January and March totaled $13.8b, some 7pc less than during the same period of 2009, said Luis Alberto Moreno during a meeting in Mexico City. Overall last year, remittances dropped 15 percent to Latin America, coinciding with the financial crisis in countries like the US and Spain that host many of the regions emigrants. Guatemala and also El Salvador have already registered rises this year in one of the main sources of foreign income for many Latin American nations. The governor of the Bank of Mexico, Agustin Carstens, warned on Thursday that clampdowns on illegal immigration including a strict new law in Arizona that critics charge enshrines racial profiling could negatively impact on future remittances.