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.

Facebook Comments

You may be interested

A pilgrimage for a saint: El Salvador mourns
Central America
578 views
Central America
578 views

A pilgrimage for a saint: El Salvador mourns

AFP - March 25, 2019

Hundreds of Salvadorans paid tribute this weekend to their first saint, San Salvador Archbishop Oscar Arnulfo Romero, murdered 39 years…

News
381 views

The Tico Times Weekly Digest: March 25, 2019

Alexander Villegas - March 25, 2019

An indigenous land rights leader was murdered in his home, four cases of measles detected in Costa Rica and La…

Costa Rica Treatment Center tackles addiction differently
Costa Rica
784 views
Costa Rica
784 views

Costa Rica Treatment Center tackles addiction differently

The Tico Times - March 25, 2019

Costa Rica Treatment Center tackles addiction differently. While most drug and alcohol rehab centers shelter their clients from external stimuli,…