Guatemalans Remittances Reach New Levels

September 16, 2005

GUATEMALA CITY (EFE) – Guatemalans living abroad sent home $1.94 billion in the first eight months of 2005, the Bank of Guatemala reported Friday.According to the bank, the dollar amount of remittances received in Guatemala from January through August 2005 is 17% higher than during the same period in 2004.Remittances have become a mainstay of the Guatemalan economy and are as important as coffee and sugar exports in bringing in foreign currency.Last year, remittances totaled a record-breaking $2.55 billion, compared with the $4.96 billion all exports brought in. Authorities expect remittances to reach $3 billion this year.According to the International Organization for Migration (IOM), more than 1.2 million Guatemalans live abroad, 90% of them in the United States.

You may be interested

Adaptive surfing, part III: Riding the waves with Noah
sports
118 views
sports
118 views

Adaptive surfing, part III: Riding the waves with Noah

Ellen Zoe Golden - May 25, 2018

Part III in a series on adaptive surfing in Costa Rica. Read Part I, about the country's association for disabled…

It’s frog orgy season
Environment and Wildlife
1223 views
Environment and Wildlife
1223 views

It’s frog orgy season

Lindsay Fendt - May 25, 2018

The rainy season is upon us. For many of us that means hiding indoors for the next few months, but for Costa…

Costa Rica’s guilty voters
No Sugar Please
185 views
No Sugar Please
185 views

Costa Rica’s guilty voters

Álvaro Murillo - May 25, 2018

By what I have done, and by what I have left undone. A relative of mine is 70 years old…