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Honduras expects remittances slowdown

Thursday, March 28, 2019


As a result of the cooling of the economy of the United States, where some 80 percent of its dollar remittances are sourced, Honduras can expect a slowdown in the flow of the funds that its emigrants send back to their families coming years, says the nation's 2019-2020 Monetary program.

Wilfredo Cerrato, president of the Central Bank, said that remittances grew by 10.5 percent in this year's first quarter. He added that double-digit growth in remittances had been the norm for the last three years.

However, "we believe that the growth will begin to decline, simply because the US economy has been slowing down," Cerrato told Forbes in Spanish.