Displaying items by tag: Remittances
New record remittances reported in Latin America
According to a new report from the Inter-American Development Bank (IDB), remittances received by Latin American and Caribbean countries are projected to reach a record US$155 billion in 2023 if trends observed to date continue.
Banco CUSCATLAN will promote the digitalization of remittances for savings
As a founding member of the Consorcio de Inclusión Financiera para Remesas (FICCAR), Banco CUSCATLAN committed to make efforts so that 20% of the person-to-person transfers received in its branches and digital banking, its clients will use them for savings.
El Salvador received US$675.04 million in remittances in august 2023
Family remittances received by El Salvador totaled US$5,332 million in the period from january to august 2023, according to data published by the Banco Central de Reserva (BCR).
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Remittances remain resilient, but are likely to shrink
Officially recorded remittance flows to low- and middle-income countries are estimated to grow by 1.4% to US$656 billion in 2023, while economic activity in remittance-sending countries is expected to slow, limiting employment and wage gains for migrants, according to the latest Migration and Development Review released today by the World Bank.
The role of remittances in Central America and Mexico provide poverty relief: IDB
Remittances are much more than a transfer of money from one country to another. They are an emotional and financial link that connects migrant workers to their homes and families in their countries of origin.
Deposits grew 4% to US$18.382 billion as of april 26, 2023
The President of the Banco Central de Reserva (BCR), Douglas Rodríguez, explained in a morning interview that the country's financial health has shown positive results, as deposits made by salvadorans showed a 4% growth as of april 26, 2023, or US$18,382 million compared to the same period of 2022.
Remittances to Central America to reach US$38.9 billion in 2022
According to the Inter-American Development Bank (IDB), remittances received by Central American countries (Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama) during 2022 will reach US$38.9 billion, marking a new historical high with an annual growth of 16.1%, the highest among all LAC sub-regions in 2022 and still high compared to the average values of 10.4% during the previous ten years.
El Salvador received US$588 million in remittances in january 2023
According to the Banco Central de Reserva (BCR), in january 2023, El Salvador received US$588 million in family remittances, showing a growth of 6.4% compared to the same period last year.
San Salvador received the most remittances of US$1,580.7 million in december 2022
According to the director of Economic and Fiscal Policy of the Ministry of Finance, Luis Sanchez, explained that the Banco Central de Reserva (BCR) projections, for december of this year we estimate to have US$7,943 million in remittances. That is, US$201 million more than in 2022.