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LatinNews Daily - 30 January 2025

In brief: Remittances to Nicaragua up

*Nicaragua’s central bank (BCN) has released new figures indicating that remittances sent to the country in the fourth quarter of 2024 totalled US$1.41bn, up 12.5% compared with the same quarter in 2023. This brings total remittances sent to the country last year to US$5.24bn, up 12.5% on those received in 2023. The main source countries are the US, which accounts for 82.8% of remittances sent, Costa Rica (7.5%), Spain (5.8%), and Panama (1.1%). Remittances coming from the US, which totalled US$4.34bn last year, were up 12.8% on the previous year, while remittances sent from Costa Rica were up 18.9%, those from Spain up 9.8%, and those from Panama were roughly unchanging from the previous year. Most of the remittances were sent to Managua department (25.4% of the total), followed by the departments of Matagalpa (10.5%), Chinandega (9.0%), León (7.4%), Nueva Segovia (7.0%), and Estelí (6.8%), among others.

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