Thursday, January 18, 2007

Remittances hit another record in 2006

From Reuters:

SAN SALVADOR, Jan 17 - Migrant workers from El Salvador sent 17 percent more money home to their families last year than in 2005, the central bank said on Wednesday.

Remittances increased to $3.32 billion from $2.83 billion.

Money sent home by roughly 2.5 million Salvadorans working in the United States is the main driver of El Salvador's tiny economy.

Central Bank chief Luz Maria de Portillo said last month that El Salvador could see another increase of 10-15 percent in remittances this year.

1 comment:

Anonymous said...

Hahaha, with a third of the population going out and sending remittances this thing is only bound to increase (too bad there is no real way of saying how much of that part comes from money laundery, though). Add to this that every day hundreds of Salvadorans are leaving the country, and we will end up having TWO thirds of the population living abroad!

Thanks ARENA, your plan of being incompetent in all areas at home is working greatly on achieving your master plan: mantain the "shell" of a country from the outside, MORE THAN they currently do. Then we will see if ARENA finaly becomes competent managing and providing a good livelihood to the remaining third.