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

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”.

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 Decrease by 13.6%

May 2009

In April, received remittances totaled $292.5 million, compared to $338.5 million during the same period last year

In the first quarter of this year, received remittances were 9.2% lower than during the first quarter in 2008.

Keny López wrote in Laprensagrafica.com: "So far this year, there have been four other decreases: -8.4% in January, -7.8% in February, -6.7% in March and -13.6 % in April.

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.

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