Trump Migrant Rhetoric Gives Surprise Boost to One Latin Nation
- Guatemalans living abroad to send home $7 billion this year
- Central bank interim president Recinos comments in interview
Students perform in a parade during celebrations for Guatemala's 195th independence day in Guatemala City on Sept. 14, 2016.
Photographer: JOHAN ORDONEZ/AFP/Getty ImagesThis article is for subscribers only.
The possibility that Donald Trump will win the U.S. presidency may be scaring Mexico, but it appears to be giving the economy of neighboring Guatemala an unexpected boost this year.
Remittances, a mainstay of Guatemala’s economy, are surging as migrants living in the U.S. send home extra money in fear of deportation should the billionaire win the November election, central bank Interim President Sergio Recinos said in an interview. The inflows will rise 12 percent to 14 percent this year to a record $7 billion, he said from his office in Guatemala City.