Family remittances – Sequential acceleration in April supports a favorable trend

  • Remittances totaled US$4,718.1 million (+16.5% y/y) in April. While volumes increased, the average amount moderated

  • Sequentially, flows rebounded 4.9% m/m, driven by strength in the US labor market, with favorable metrics for migrants

  • We stay positive on remittances, but cautious given a potential moderation in US activity amid high inflation

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