One area of concern to the authorities in Guyana has been the high transfer costs of sending remittances. The transfer costs have been identified as an element that might negatively affect the amount and frequency of remittances sent and thus, the inflow of financial resources into the country. A request on behalf of the Ministry of Foreign Affairs (MoFA) of the Republic of Guyana for technical assistance (TA) was submitted as to conduct a study on remittances in Guyana with a specific focus on these transfer costs and potential reduction options.


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