Economy / Guatemala
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Weak Remittances To Impact Economic Growth
July 2008 | Economic AnalysisSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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BMI View: After holding up surprisingly well in the early months of the year, remittance growth has finally started to relent, as Guatemalan workers in the US are faced with increasing economic difficulties and still-gloomy employment prospects. Given the importance of these inflows as a driver of private consumption and fixed investment, a H208 slowdown in remittance flows underscores our real GDP growth forecast of 4.5% this year, down from a nine-year high of 5.7% in 2007.