Suggestion that remittances on the Isthmus be sent through the banking system.
Manuel Orozco, coordinator for the Inter-American Dialogue Development and Remittances Program, recommended to lawmakers from Central America and the Dominican Republic that they encourage that the banking system be used to send family remittances.
Tuesday, August 26, 2008
Orozco pointed out that a Central American immigrant sends his family between $3,000 and $3,500 on average per year.
The Academy of Central America heads a group of companies and institutions seeking to promote the use of banking services in this sector.
For every $100 that migrants send to their families between $30 and $35 are in some way related to banking services.
Panama ranks second in Latin America in number of bank branches and ATMs per 100,000 people with 90.28, surpassed only by Brazil with 99.37.
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.
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