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Remittances to Nicaragua Hit Record High in 2012

By on February 9, 2013


Remittances from Nicaraguans abroad reached over US$1.014 billion, or 11.2 percent over the figure of 2011 (US$911.60 million), the Central Bank confirmed today.

The figure is a record high in money transfers by residents abroad, which rose from US$739.60 million in 2007 to US$822.80 million in 2010.

As customary, the highest sums last year came from the United States and Costa Rica, where most Nicaraguan immigrants live.

In opinion of ex president of the Central Bank, Mario Arana, the figure reached in 2012 is a record high and may be higher this year due to the new migratory laws expected to come into force in the United States, allowing thousands of Nicaraguans to become naturalized Americans.

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