Donald Truephoto: Tasos Katopodis / Getty Images
The threat of U.S. President Donald trump to raise Commission rates for money transfers to Guatemala have brought the country almost a billion dollars, the second best monthly result in history, according to Bloomberg.
Working in the United States migrants from Guatemala started to send money home, although the White house did not name any timeframe for the imposition of sanctions or other details. Head of the Central Bank of the Republic Sergio Recinos (Sergio Recinos) noted that trump’s words brought his country a favor, at least for the moment. He added that their role in positive dynamics was played by the reduction of unemployment in the United States.
Remittances last July increased 15.8 percent compared to the same period last year and reached 948 million dollars. After that, in Guatemala, revised forecasts on money transfers for 2019.
Cause angry messages trump July 23 was a hitch in the signing of an agreement between the two countries on migration issues. The Guatemalan President Jimmy Morales was supposed to visit Washington and to sign the contract, but before that, the constitutional court ruled that this requires the approval of the national Congress. As a result, the visit was canceled, and the White house accused Guatemala in that it promotes the illegal migration to the United States.
Nevertheless, the Republic is not going to abandon the agreement. As pointed out by Recinos, Guatemala, and without it can take up to 2.5 thousand migrants per year and allow them to compete for jobs with locals. However, added the head of the Central Bank, if their number exceeds 50 thousand, the country’s economy faces problems.
Video, photo All from Russia.