It is almost $20 million less than for the same month in 2007, when $323.8 million was sent...
The figure for October confirms the fears of slowdown that analysts have been announcing in the last few months. As a consequence of the crisis experienced in the United States, which has the most Salvadoran immigrants, employment has been reduced, particularly in sectors such as construction, which is traditionally the main source of work for Salvadorans abroad.
During January, remittances totaled $252.4 million, 8.4% less than for the same period in 2008, when they were $275.5 million.
La Prensa Libre published on its website: "For now, neither the economic cabinet nor the Central Reserve Bank have spoken about the reasons for the decline, even though a similar situation occurred during four months last year, and it was blamed on the economic crisis in the United States which is considered the source of 90% of these remittances."