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Nicaragua breaks $1 billion mark in remittances

Monday, April 1, 2013

Nicaragua broke a record in its economy when it reached just over $1 billion in remittances last year, according to the Nicaraguan Central Bank.

The amount is 9.7 percent of the country's gross domestic product, and 74 percent of the total foreign cooperation, donations and loans from 2012.

Of the total, 54 percent, or $553 million, was sent from the United States, followed by Costa Rica, with $182 million, and Spain, with $57 million.

Full story (in Spanish)