The Central Bank of Nicaragua acknowledged the “weight” that remittances sent from abroad have on the economic growth of the country, the newspaper Confidencial reported on Tuesday.
Confidencial, citing BCN’s 2024 annual report reviewed by the newspaper, reported that the institution “acknowledged in various ways” the importance that family remittances sent from abroad had in Nicaragua’s economic dynamism.
According to the World Bank, Nicaragua is the third-most remittance-dependent economy in the world, surpassed only by Tajikistan and Tonga. In recent years, Nicaragua has experienced a dramatic surge in the amount of remittances received, with an overwhelming majority of the remittances originating from the United States.
Confidencial detailed that it took Nicaragua nine years (2012-2021) to go from $1.014 billion in remittances received to
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