Guatemalan remittances at $4 billion

At the end of 2008, remittances reported a 4.5% increase compared to 2007, the lowest growth since 1999, according to data from Banguat.

Friday, January 9, 2009

Prensalibre.com reports that "for 2009 a growth close to zero is expected, however we do not believe that it will be less than in 2008," said Victor Lozano, an official from the International Migration Organization.

More on this topic

Remittances to Guatemala fell by 9% in July

August 2011

After 16 months of continuous growth, remittances in July were down 9% compared to the same period in 2010.

According to the Bank of Guatemala (Banguat), remittances received in July totaled $349.8 million, 9% less than the $384.6 million received in the same month in 2010.

El Salvador: Remittances Drop 10% in 2009

December 2009

2009 will mark the first time in 25 years in which remittances drop when compared to the previous year.

From January to October 2009, the country received $2.8 billion, and according to Central Bank estimates, the final figure for 2009 could be $3.4 billion.

"Remittances account for between 17% and 18% of the nation's GDP, so 'a 10% drop implies 2 percentage points less of Gross Domestic Product.

El Salvador: Remittances Down 10% in October

November 2009

Between January and October, the country received $2.86 billion in remittances, 10% less than the $3.18 billion received in the same period of 2008.

On the bright side, the percentage drop was lower in October than in September, according to data from the Central Bank of El Salvador (BCR).

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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