Remittances drop 9.6% in Guatemala
In the first half of the year remittances reached $1.93 billion, $203 million less than the first half of 2008.
Thursday, July 9, 2009
According to monthly stats published by the Banco de Guatemala (Banguat), remittances summed $349 in June, the highest monthly figure since October 2008.
After 16 months of continuous growth, remittances in July were down 9% compared to the same period in 2010.
At the end of 2008, remittances reported a 4.5% increase compared to 2007, the lowest growth since 1999, according to data from Banguat.
In the first half of the year, $1.7 billion were sent to the country by Salvadorans abroad, 10.3% less than the same period of 2008.
After two months showing a downward trend, remittances in March totaled $344.1 million, up 22% over the same period in 2008.
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