Remittances continue to show solid growth in 2011, up 10.9% in February

- Thursday, March 3, 2011

Remittances continue to show solid growth in 2011, up 10.9% in February

Remittances to Guatemala continued to show strong growth in beginning of the year, after posting a 10.9% growth in February compared with the same month in 2010, according to the latest figures from central bank Banco de Guatemala.

Guatemalans abroad sent home US$305mn in February, compared with US$275mn sent in February 2010. The figure was also up 7.51% from January.

Overall for 2011 so far, money sent by Guatemalans living abroad is up 12.9% to US$588mn, a positive sign indicating that remittances seem to have shaken off the impact of the 2008-09 global financial crisis, the central bank figures show.

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