October 20, 2021
Economy

$866.1 million in remittances from the United States to support the economy

Remittances totaled $1,381.6 million in August of this year, of which $866.1 million came from the United States, reflecting the support that remittance flows from this economy mean for the Nicaraguan economy, according to the Central Bank of Nicaragua. (BCN).

According to the bank’s largest source, the total amount of $1,381.6 million reached until August of this year was $569 million, which is higher than the same period last year. This represents an increase of 16.5% over the same period in 2020 ($1,186.0 million).

Most remittance-based economies are growing in Nicaragua, but only the United States has reported a 22% increase.

Last year, through August, from the United States, where the largest immigrant community comes from Nicaragua, income of $709.5 million, another $156 million this year came from that country, for domestic consumption and a significant portion of the…

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