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Country Report Guyana Product Image

Country Report Guyana

  • ID: 2138721
  • May 2015
  • Region: Guyana
  • 28 Pages
  • The Economist Intelligence Unit

Remittances to Latin America and the Caribbean reached a record US$65.4bn in 2014, according to recent data from the Inter-American Development Bank (IDB). This was the first time that remittances had exceeded their pre-crisis levels, after having suffered sharp declines since 2009 from a previous record of US$64.9bn in 2008. Nevertheless, growth this year remained uneven: although the levels of remittances to Mexico, Central America and the Caribbean rose, those to South America experienced a small decline.

Last year saw the most significant rate of growth in remittances since the 2008 global financial crisis, increasing by over 5% from a year earlier. After experiencing years of healthy growth (the value of remittances to the region tripled between 2001 and 2007, from US$21.9bn to US$64.3bn), remittance flows fell by 10% in 2009. This was followed by a moderate recovery in 2010 and 2011, but growth had been stagnant since then, flattening out around US$61bn over the past three years. However, although overall value has exceeded pre-crisis levels, growth was not evenly distributed across the region, largely owing to past migration flows. Mexico, Central America and the Caribbean READ MORE >

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Country Report Guyana

Remittances set new record in 2014
Regional divide seen
Local effects still strong

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