Fears in Nicaragua over possible downturn in migrants' remittances
The amount of dollar remittances sent home by Nicaraguans working abroad has not increased at all this year and some economists fear it will go down, to the cost of the nation's economy.
Wednesday, July 2, 2008
The central bank, the BCN, continues to claim that remittances this year will show a 6 percent increase, but many economists say that the difficulties faced by the US economy have put that target out of reach.
The US president is already putting into practice his premise "America First", which leads Central America to anticipate negative changes in the flow of remittances from that country.
By country: Guatemala $4.37 billion; El Salvador $3.65 billion; Honduras $2.86 billion; Nicaragua $1.05 billion; Panama $592 millions; Costa Rica $530 millions.
After 16 months of continuous growth, remittances in July were down 9% compared to the same period in 2010.
Fourth quarter of 2008 registers first decline in nearly a decade. Flows of money sent home by migrants hit by economic slowdown, exchange rate swings
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