Family Remittances Help Economic Recovery

In the first two months of 2011, Nicaragua received $137 million in remittances from abroad, 10% more than in the same months of 2010.

Friday, April 8, 2011

All of Central America and Mexico has seen a recovery in remittances according to a report from the Inter-American Development Bank (IDB), which states that money flows increased by between 6 and 16% in the first two months of this year.

In an article for Laprensa.com.ni, Gisella Canales Ewest writes that, "with the exception of a dip in 2009, due to the world economic crisis, family remittances to Nicaragua have steadily increased from $320 million in 2000 to $823 million in 2010.



More on this topic

Remittances in Guatemalan Economy

April 2012

In 2011 remittances grew by 5% compared to 2010; so far 2012 the amounts have already exceed those from the same period in 2009, making up 10%-11% of Guatemala's GDP.

In 2011, remittances to Guatemala exceeded the record highs of 2007 and 2008, before the global crisis. Last year, Guatemalan migrants sent home $4.378 billion, according to the Bank of Guatemala (Banguat).

Remittances to Guatemala Back to Pre-Crisis Levels

March 2012

With the receipt of $655 million in January and February, the level of remittances from the United States now exceeds the level recorded in the first two months of 2008.

The Bank of Guatemala (Banguat) reported that between January and February this year they received $655.4 million in remittances, an increase of 11.4% on the $587.9 million recorded in the same period in 2011 and 3.5% more than the $632.9 million recorded in the first two months of 2008, at the very beginning of the global crisis, according to an article on Elperiodico.com.gt.

Guatemala: Remittances Grow by 9%

July 2011

In the first six months of the year more than $2,000 million came into the country from abroad.

Remittances sent by Guatemalan families living abroad have increased by 9.3% compared to the first half of 2010.

The highest figures were recorded for June, with more than $416 million flowing into the country via this route, according to the Central Bank of Guatemala (Banguat).

Remittances to Central America Increasing

June 2011

The recovery in the amount of money sent to their countries of origin by Central American emigrants remains strong.

In the first quarter, in Nicaragua, remittances totaled $ 287.5 million, 8.2% higher than in same period in 2010.

Monetary transfers to Guatemala (the largest recipient in Central America), totalled $1,758.7 million in the first five months of 2011. An increase of 10.4% compared to the same period in 2010.

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