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> Why does another company not come in to steal 9% to 24% of the GDP of the whole country? It's less than that. $ 400 million commissions / $ 24 640 million G
by el-salvador 5y ago
> Why does another company not come in to steal 9% to 24% of the GDP of the whole country?
It's less than that.
$ 400 million commissions / $ 24 640 million GDP x 100 = 1.66% of GDP.
I am not familiar with how revenue is shared between the remitting companies, but part of those commissions are set to offset the costs of operating the remittance network in El Salvador. Operating offices, armored trucks, complaiace, bank staff wages and security expenses.
2019 GDP https://tradingeconomics.com/el-salvador/gdp https://tradingeconomics.com/el-salvador/gdp
- lotsofpulp 5y agoI suspected as much, as is usually the case when someone posits a grand conspiracy.
- zests 5y ago10% of 25% is 2.5%
- lotsofpulp 5y agoOops! I misread it as “10% to 25%” of GDP rather than “10% off of 25%”