Guatemala: Growth in remittances gains steam in December
Remittances totaled ISD 1,163 million in December, growing a 41-month high 23.7% year-on-year jump, which follows November’s 19.9% surge. On a 12-month moving average basis, remittances reached USD 11.3 billion in December, up from November’s USD 11.1 billion. December’s 12-month rolling sum marked a 7.9% increase from a year prior (November: +6.8% year-on-year). Remittances are a key source of income for Guatemalan families and tend to follow employment trends in the United States, where the majority of remittance payments originate from.