Guatemala: Remittances Up 14%

From January to September 2019, family remittances to Guatemala totaled $7.748 million, 14% more than in the same period in 2018.

Wednesday, October 16, 2019

The most recent figures from the Bank of Guatemala (Banguat) indicate that in September 2019 the country received remittances of $892 million, 20% more than the $745 million recorded in the same month in 2018.

Between the first nine months of 2013 and the same period in 2019, remittance income practically doubled, from $3.801 billion in 2013 to $7.748 billion in 2019.

The 13% increase recorded from January to September of this year with respect to the same period in 2018, represents an acceleration in the growth of remittance flow, since for the first nine months of 2018 a growth of 11% was reported.

Sergio Recinos, president of Banguat, explained to Prensalibre.com that "... the reception of family remittances has been increasing since last May."

Recinos explained that the upward behavior is because of "... First, the performance of the economy in the United States and, above all, the unemployment rate is very low and benefits the Latino population. On the other hand, the noise of immigration policies generates that people who are in an irregular immigration situation anticipate sending resources and savings."

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