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Remittances to Nicaragua surge almost 6 percent

Wednesday, September 18, 2013

Remittances to Nicaragua this year through July reached $608 million, an increase of 5.7 percent compared with the same period of 2012.

"The increase in remittances is making an important macroeconomic impact," said economist Sergio Santamaría. "This dollar income is helping to build up the nation's foreign-exchange reserves."

Earlier the UN Economic Commission for Latin America had forecast that this year Nicaragua's remittances will reach a $1 billion record.

Full story in Spanish