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LatinNews Daily - 08 March 2021

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In brief: Remittances to Guatemala rise

* Guatemala’s central bank (Banguat) has released new figures which show remittances to Guatemala totalled US$1.85bn in the first two months of 2021, up from US$1.64bn on the same period in 2020. The country received a record US$11.34bn remittances in 2020, up from US$10.5bn in 2019. Remittances initially slumped last 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 Center released on 31 August 2020, remittances to Guatemala accounted for 14% of the country’s GDP in 2019.