ctober 3, 2008 | By knews | Filed Under News
Money transfer entities in Guyana are monitoring the financial crisis in the United States to see how it will affect their business, and at least one firm appears to be feeling the pinch already.
An official at one of the country’s major money transfer entities told Kaieteur News yesterday that the firm has experienced a slight drop in remittances from the US since June.
The official said that the reduction was “less than one percent.”
“Since June we noticed a fluctuation, although last month’s figures were better than those in September 2007.
But maybe by November-December it (the crisis) might start to trickle down (to Guyana).
“We are watching the situation. We know that we are going to be affected. We recognize that next year might not be so good a year for us, but we are trying to maintain our market share.”
Western Union, Money Gram, Laparkan Financial Services Limited, and the recently-established Senvia (Interlink) are the major money transfer entities operating here.
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