LatinNews Daily - 01 December 2022

In brief: WB highlights strength of remittances to Central America

* The World Bank (WB) has released a new report indicating that data for the first nine months of 2022 shows a 45% increase in remittances for Nicaragua and a 20% increase for Guatemala. According to figures from the WB-Global Knowledge Partnership on Migration and Development (KNOMAD), an initiative coordinated with the WB, remittances to Guatemala totalled US$15.4bn in 2021 while remittances to Nicaragua totalled US$2.1bn last year. The WB notes that stronger employment of migrants from Latin America in the US contributed to remittance flows. Remittances received by migrants in transit also contributed to strong flows in Mexico and Central America. As a share of GDP, remittances exceed 20% in El Salvador, Honduras, Jamaica, and Haiti. The WB however expects that remittances will likely moderate in 2023 due to a weaker economic outlook for the US, Italy, and Spain.

End of preview - This article contains approximately 143 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

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