Guatemala: Remittances inflows pick up in April
May 6, 2019
Remittances from workers abroad rose at a solid 12.5% pace in April, up from the 9.6% increase logged in March. Remittances totaled USD 865.2 million (March: USD 826.7 million). Meanwhile, growth in the 12-month moving sum moderated to 13.9% in April from 14.6% in March.
Remittances are a key source of income for families in the Central American country and usually follow employment trends in the United States, where most remittances originate. Moderating economic momentum in the U.S. could lead to slower growth in remittances, while possible changes to U.S. immigration policy remain a key downside risk to the remittances outlook.
Author: Jan Lammersen, Economist