Remittances hold their level for a third consecutive quarter

Inflows stayed above the same period last year, steadying an external account that had looked fragile in spring.

Inflows held above the same period last year, extending a run that has now lasted three quarters.

The steadiness matters more than the growth rate: the external account had looked fragile through spring, and a predictable inflow changes the financing arithmetic.

Formal channels continue to gain share against informal ones, which flatters the recorded figure somewhat.

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