Remittances to Northern Triangle countries pick up following pandemic lows

Guatemala, El Salvador, and Honduras have all seen a recent upturn in remittances received following steep declines over the course of the pandemic. Guatemala’s Central Bank reported that remittances received in June had increased by 15% compared to May, and were even up slightly on figures received in June last year. Overall, Guatemala’s remittances received in H1 2020 were down by just less than 1% compared to 2019. June also saw an increase in remittances received by El Salvador, with the amount 9.8% higher than that received in June 2019. The Central Reserve Bank of El Salvador attributes this to both reduced unemployment amongst Salvadorans in the US, the main source of remittances to the country, and to increased efforts by relatives overseas to support family members in El Salvador as the pandemic takes its toll. Honduras also saw an uptick in remittances in June

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