Economy & Business - August 2022


EL SALVADOR | Remittances up. On 18 July, El Salvador’s central bank (BCR) released new figures which show that remittances sent to El Salvador totalled US$3.78bn in the first six months of 2022, up 3.5% on the same period in 2021. Of the total 93.9% were sent from the US, followed by Canada (0.9%); Spain (0.4%); Italy (0.3%); and the UK (0.1%). As regards how they were sent, 34.4% were sent via banking institutions; while other institutions used for the payment of remittances represented 62.1% of the total. Digital transactions through cryptocurrency accounted for 1.7% of the total while transactions through mobile telephones accounted for 0.3%. 

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