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Remittances for Guatemalans Rise
Money remittances to Guatemalan
families increased to 361
million dollars in May, an
unprecedented high for one month
and very fundamental since
one-third of the total
population lives from them.
The Bank of Guatemala said
remittances surpassed 1.43
billion dollars during the first
five months of 2006, accounting
for a 21 percent rise if
compared to the same span last
year.
If the upward trend keeps up
throughout 2006, remittances are
expected to climb to over 400
million dollars and become the
nation´s second major source of
foreign currencies.
Roughly one million and a half
Guatemalans live abroad today,
mostly in the US.
The money they send helps keep
alive nearly 4 million
Guatemalans whose income is
insufficient to afford minimum
living conditions.
At least half of 12 million
Guatemalans are presently living
in poverty but the worst thing
of all is that means 80 percent
of indigenous communities.
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