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Economy & Business - March 2005

GUATEMALA: Up by 9%

The Banco de Guatemala reported that remittances in the first two months were up by 9% on 2004. This is a much lower percentage rise than figures from other countries in Central America, suggesting either that Guatemala's data collection is better than El Salvador's or Mexico's or, conversely, that its remittances are still under reported. In fact, we would argue that it is El Salvador's remittances which are still under-reported, perhaps by as much as 50%.

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