Due to the spread of the covid-19, family remittances sent to the country fell in March, April and May; however, the trend was reversed in June, when a 9% year-on-year variation was registered.
The most recent data from the Bank of Guatemala show that in the first six months of 2020 the country received remittances for $4.88 billion, an amount that is 1% lower than the $4.92 billion registered in the same period in 2019.
During the first six months of 2019, family remittances sent to Guatemala totaled $4.927 million, 12% more than the same period last year, growth that is higher than the 9% reported from January to June 2018.
The latest figures from the Bank of Guatemala detail that in June 2019 the country received remittances of $882 million, amount that is 10% higher than the $801 million registered in the same month of 2018.
In the first ten months of the year, income from family remittances totaled $7.687 million, 13% higher than reported in the same period in 2017.
The latest data from the Bank of Guatemala show that in October 2018 the country received $864 million in remittances, 19% more than the $728 million registered in the same month in 2017.
During the first nine months of the year, income from family remittances reached $6,824 million, 12% higher than the amount reported for the same period in 2017.
The most recent figures from the Bank of Guatemala show that in September 2018 the country received remittances of $746 million, which is 11% higher than the $672 million reported for the same month in 2017.
The decision was made in response to economic activity, family remittances and credit to the private sector showing dynamism, and the fact that inflation remains within the target.
From a statement issued by the Bank of Guatemala:
The Monetary Board (MB), based on a comprehensive analysis of the external and internal situation, after reviewing the Inflation Risks Balance, decided to keep the level of the leading monetary policy interest rate at 3%.
The total figure for remittances in 2015 reached a record high of $6.285 billion, $741 million more than the amount recorded last year when $5.544 billion was registered.
According to the Bank of Guatemala, the annual increase of 13.4% was also strengthened by the $599 million that came in to the country in the last month of 2015.
During 2013 the Guatemalan economy continued to recover and show dynamism in most sectors in the country.
The Monetary Authority of Guatemala notes that in 2013 the country had a satisfactory rate of economic activity consistent with the recovery that has been seen in the world economy.
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