Back

LatinNews Daily - 07 April 2020

In brief: Icefi director warns of fall in remittances to Guatemala

* Jonathan Menkos, the director of the Guatemala-based think-tank Central American institute of fiscal studies (Icefi), has warned that Guatemala could suffer a 20% fall in remittances in 2020 compared with 2019, due to the coronavirus (Covid-19) pandemic. According to Guatemala’s central bank (Banguat), remittances totalled US$10.5bn in 2019. The most recent World Bank figures show that remittances accounted for 12% of Guatemala’s GDP in 2018. Menkos also suggested that the Guatemala's GDP could contract by between 0.9% and 1.2% in 2020 due to fall in “remittances, exporting prospects, tourism and a decrease of productive national activity”. At the start of the year Banguat forecast GDP growth of between 3.1% and 4.1%, compared to 3.5% in 2019.

End of preview - This article contains approximately 125 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.