Record Growth Expected for Guatemala Remittances

Record Growth Expected for Guatemala Remittances

Central America Guatemala Economy & Policy Corporate & Sovereign Strategy

Guatemala’s central bank expects remittances to increase 5.3% to an all-time high of $4.35bn in 2011. The growth expectations are encouraged by recent strong performance for the first 5 months of the year and an improved US labor outlook, where most remittances to Guatemala originate, according to a JPMorgan report. May remittances to Guatemala surged 16.3% to $415m from $357m the year before, when remittances grew by only 7.3%. May’s favorable performance brings total remittance volum

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