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Marlon Humphrey Jersey Laparkan Financial Services Limited

Money transfer entities in Guyana are monitoring the financial crisis in the United States to see how it will affect their business, and at least one firm appears to be feeling the pinch already.An official at one of the country’s major money transfer entities told Kaieteur News yesterday that the firm has experienced a slight drop in remittances from the US since June.The official said that the reduction was “less than one percent.”“Since June we noticed a fluctuation,Cheap Jerseys, although last month’s figures were better than those in September 2007.But maybe by November-December it (the crisis) might start to trickle down (to Guyana).“We are watching the situation. We know that we are going to be affected. We recognize that next year might not be so good a year for us, but we are trying to maintain our market share.”Western Union, Money Gram,NFL Jerseys China, Laparkan Financial Services Limited, and the recently-established Senvia (Interlink) are the major money transfer entities operating here.According to an Inter-American Development Bank (IDB) report,Wholesale World Cup Jerseys, relatives sent $424M in remittances to Guyana in 2007. The report said that the money represents 43 percent of the country’s gross national product.It is believed that 70 percent of remittances are sent via money transfer,Boston Celtics Jerseys, and the official estimate is that more than 30 percent of these remittances are wired to his firm.An official from another money transfer firm said that his company was “monitoring” the financial situation closely, but stated that it was too early to say whether remittances are being affected.Marlon Williams, the Marketing Manager of Senvia (Interlink) says that his firm is yet to feel the effects of the financial fallout.In fact, business has improved for the firm, which has been in Guyana for one year now,Nike NFL Jerseys China, he said.Senvia’s Marketing Manager believes that the effects of the US crisis will only be felt here if the unemployment rate in the US rises.“Guyanese (living overseas) somehow find that US$100 or US$200 to send to their families,Cheap NFL Jerseys,” he observed.According to a recent IDB report, remittances to the Caribbean and Latin America are likely to decrease in value due to the economic crisis in the US.
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