Nicaragua Sees Nearly $1 Billion in Remittances from the U.S. in 3 Months
by CHRISTIAN K. CARUZO 29 Apr 2024
The communist dictatorship of Nicaragua saw a growth of nearly 12 percent in the amount of remittance money emigrants sent to the country during the first quarter of 2024, mainly driven by remittances sent from the United States, according to a report published by the Nicaraguan newspaper La Prensa on Sunday.
According to statistics from the Central Bank of Nicaragua (BCN), remittances sent to the country during the first three months of 2024 totaled $1.14 billion, marking an 11.8-percent increase from 2023’s $1.02 billion in the same time period.
Of the $1.14 billion received in the first quarter of 2024, the report states, $930.7 million came from the United States, representing a staggering 81.6 percent of the total. The increase, according to BCN, means Nicaragua remains the Central American country with the most growth in remittances received.
Since 2023, Nicaragua has experienced a dramatic upsurge in the amount of remittance funding received by locals from Nicaraguan citizens abroad who have either fled or been banished from the communist regime.
Dictator Daniel Ortega turned remittances into a crucial funding resource for the economically-ailing regime.
https://www.breitbart.com/latin-amer...-u-s-3-months/
