Guatemala: Stable growth in remittances in March
Remittances from workers abroad increased 9.6% in March, matching February’s print. Remittances totaled USD 826.7 million and growth in the 12-month moving sum accelerated to 14.6% from 13.9% in February.
Remittances are a key source of income in the Central American country and usually follow employment trends in the United States, where most remittances originate. Moderating economic momentum in the United States should therefore lead to a more moderate pace of growth in remittances. A key downside risk to remittances growth is uncertainty over U.S. immigration policy.