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Remittances from emigrants to El Salvador increase by 2.5 percent this year

Tuesday, December 21, 2010

Remittances sent by Salvadorans that live overseas closed the year with 2.5 percent growth, lower than official estimates.

“Remittances are going to close this year at $3.5 billion. We had estimated that there would be 5 percent growth,” said a central bank representative.

He explained that the reduction in growth was due to higher unemployment rates for Hispanics in the United States.

Original source (in Spanish): Efe