Salvadoran Government Will Compensate Remittances Decline

Through programs and measures included in the Global Anti-Crisis Plan, the government intends to compensate the 11% drop in remittances.

Wednesday, August 19, 2009

This was explained by Alexander Segovia, the Presidency's Technical Secretary, who also announced proposals geared towards small entrepreneurs and producers.

ElSalvador.com published more statements by Segovia: "... we are giving more priority to projects like Fomilenio, which fosters development in the country's north...".

More on this topic

Remittances to El Salvador Drop 10.3%

July 2009

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.

Remittances averaged $290 million each month during this semester, whereas the average was $323.1 during the first half of 2008, according to data from the Reserve Bank (BCR).

Remittances to El Salvador on the decline

November 2008

The total remittances during October was $304.3 million or $400,000 less than the previous month.

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.

Honduran Economic Situation

February 2010

Proposals from Fosdeh (Social Forum on Foreign Debt and Development in Honduras) to the Honduran Congress.

“The economic, social and political crisis in the country has never been as evident and generalized as now, and we’ve never had such a thin margin for errors as we do now. We urgently need to reach consensus through real dialogue”.

IDB sees remittances to Latin America declining in 2009

March 2009

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

After almost a decade of growth, remittances to Latin America and the Caribbean are likely to decline in 2009 for the first time since the Inter-American Development Bank started tracking these flows in the year 2000. Remittances have been decreasing since late 2008.

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