Weekly Report - 19 October 2004

GUATEMALA | Heading for record in remittances. Remittances by Guatemalan expatriates this year could reach a record US$2.6bn, or 25.5% more than last year. This is equivalent to 10% of GDP and almost matches Guatemala's export earnings. The forecast emerges from an extensive survey conducted within Guatemala by the International Organisation for Migrations (OIM), with the support of the government, the Banco Centroamericano de Integración Económica (BCIE) and the Banco de Guatemala.