Remittances continue growing
Remittances, the money sent home by Salvadorans working abroad, are perhaps the single biggest economic force in the country. The billions sent back in 2007 set another record :
SAN SALVADOR, El Salvador. Money sent home by Salvadorans working abroad - mainly in the United States - rose to a record US$3.69 billion in 2007, about 6.5 percent more than in 2006, the government announced on Thursday.
Remittances rose by US$224 million, and now equal about 18 percent of the country's gross domestic product, El Salvador's central bank reported.
"The results on remittances were positive, when seen in the context of the U.S. economy, which is showing less growth," the Central Bank said in a statement.
Remittances are one of the main sources of income for this Central American nation, which uses the dollar as its national currency.