LatinNews Daily - 11 January 2021

In brief: Guatemala receives record remittances in 2020

* Guatemala’s central bank (Banguat) has released new figures which show family remittances to Guatemala totalled a record US$11.34bn in 2020, up from US$10.5bn in 2019. The monthly figure for December of US$1.16bn was the highest monthly figure on record. Remittances slumped earlier in the year as the coronavirus (Covid-19) pandemic took hold in the US (as elsewhere), the source of most remittances to Guatemala, but they have since picked up again. According to a report by the US-based Pew Research Centre released on 31 August 2020, remittances to Guatemala accounted for 14% of the country’s GDP in 2019.

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