SAN SALVADOR – Remittances from Salvadorans living and working abroad, most of them in the United States, fell by 8.4 percent during January compared with the same month in 2008, El Salvador’s central bank said Wednesday.
According to an item posted on the bank’s Web site, in January remittances dropped to $252.4 million.
So far, neither the government nor the central bank has commented on the reasons for the decline, but a similar situation occurred during four months of last year and was ascribed to the economic crisis in the United States, from where it is estimated that 90 percent of the remittances flow.
In 2008, remittances reached a total of $3.79 billion, 2.5 percent more than in 2007.
The flow of remittances in recent years has become a pillar of the Salvadoran economy, amounting to 17 percent of the gross domestic product.
Remittances grew by 11.1 percent in 2005, 17.2 percent in 2006 and 6.5 percent in 2007. EFE
Source
No comments:
Post a Comment