Between January and November, the flow of remittances that came into the country amounted to $7.472 billion, registering an increase of 15% compared to the same period in 2016.
Figures from the Banco de Guatemala detail in November of last year alone the country received $600 million in remittances, while in the same month of this year the figure rose to $646 million.
Between January and September the flow of remittances received by the country totaled $6.097 billion, up from the $5.4 billion received up until August.
Figures from the Bank ofGuatemalashow that in September last year the country received $607 million in remittances, while in the same month this year the figure rose to $672 million.
In July, the country received $707 million in remittances, accumulating a total of $5.4 billion so far this year, up 16% from the same period in 2016.
Figures from the Bank of Guatemala show that in July last year the country received $619 million in remittances, while in July this year the figure rose to $707 million.
In the first half of 2016 the country received $3.512 billion in remittances, almost 20% more than in the same period in 2015.
The figure achieved in the first six months of the year contrasts with the same period in 2015, when Guatemalans living abroad sent $2,955 million back to their country.
Elperiodico.com.gt reports that "...For the fourth consecutive month income from family remittances exceeded $600 million. According to the Central Bank, Guatemalan households received $614.7 million in June in transfers from abroad. "
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.
In 2014 $5.544 billion came into the country in remittances, 8.6% more than the $5.105 billion received during the previous year.
The improvement in the US economy, the main destination of Guatemalan migrants, is one of the reasons behind the increase of 8.6% seen in remittance flows received by the country during 2014.
The Central Bank of Guatemala indicated that July was the month which saw the largest inflow of foreign exchange under this heading, with $509 million.
In the first nine months of the year, foreign exchange remittances rose by 9.1%, or $348 million more than in the same period in 2013.
The rate of growth of the amount of money sent by Guatemalans living abroad has shown signs of recovery in recent months, after less rapid growth during the USA's economic crisis, between 2009 and 2012, was recorded.
In the first half of the year Guatemalans living abroad sent $2.703 billion, 9% more than in the same period in 2013.
Net remittances from January to June were up from the $2.478 million which the country received in the same period in 2013, despite an increase in the number of deportations of undocumented Central Americans.
For the first time in April the country received $490 million in remittances, equivalent to 9% of the total amount received in 2013.
Foreign exchange earnings from remittances reported by the Bank of Guatemala (BANGUAT) for the period January to April 2014 was $1.73 million, exceeding by 9% the amount received in the same period in 2013.
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.
The 2013 edition of the Productive Remittances program brings together over 100 local MSMEs to showcase their products to migrants who live in the U.S. and England.
Sales are expected to reach $2 million and $6 million.
Siegfried Lee, Vice Minister of Development of micro, small and medium enterprises, said that during the second edition of the conference entitled 'El Encuentro con el Migrante 2013: Remesas Productivas' involved the "...
Billions of dollars that alleviate poverty but put conditions on the productive development of Central American countries.
Taking the example of El Salvador, whose economy over the last 20 years has received $40 billion dollars sent by Salvadorans from abroad, an article by Roberto Flores in Alainet.org points to the extraordinary influence of the phenomenon in reducing the poverty-despite the stagnation of the Salvadoran economy-but also its involvement in the country's productive matrix.
español
2017