remittance
Quick Summary
In economics, a remittance refers to money sent by a person in one country to a person in another country. This is often sent by migrant workers to their families back home.12
Remittances are a significant source of income for many developing countries, often surpassing official development assistance. They can be used for various purposes, including consumption, investment, and education.3
While the term "remittance" can broadly refer to any payment for goods or services, in an economic context, it specifically denotes these cross-border money transfers.12
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GuatemalaEconomyRemittances from Guatemalans living abroad accounted for a larger source of foreign income than exports and tourism combined.
Read MoreRemittances from Guatemalans living abroad accounted for a larger source of foreign income than exports and tourism combined.
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GuatemalaGuatemala in the 21st century…United States, and to tax remittances sent home by Guatemalans working in the United States. In July Morales’s government agreed to the U.S. proposal; however, the Constitutional Court had already ruled that the Guatemalan legislature would have to approve the agreement in order for it to be enforceable. Many Guatemalans…
Read More…United States, and to tax remittances sent home by Guatemalans working in the United States. In July Morales’s government agreed to the U.S. proposal; however, the Constitutional Court had already ruled that the Guatemalan legislature would have to approve the agreement in order for it to be enforceable. Many Guatemalans…
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