Guyana received US$400 million in remittances last year, which accounted for 17% of the country’s Gross Domestic Product (GDP), according to a new report on remittances in the region.
The Multilateral Invest-ment Fund (MIF) of the Inter-American Development Bank (IDB) is reporting that Guyana ranks second only to Haiti in terms of remittances as a percentage of GDP. Haiti’s remittances of US$1.988 billion make up 25% of that country’s GDP, the report, entitled ‘Remit-tances to Latin America and the Caribbean 2012: Differing Behaviour Across Sub-regions,’ said.
The report, which was released on April 29, noted that US$61 billion was remitted to the
