Diaspora Remittances Fall In 2018

Reserve Bank of Zimbabwe Governor John Mangudya revealed that diaspora remittances into Zimbabwe dropped by 11,4 per cent in 2018 to $619, 2 million from $699 million received in 2017.

Mangudya said this while presenting the 2019 Monetary Policy Statement on Wednesday. He said:

Diaspora remittances contributed $619,2 million, a decline of 11,4 per cent as compared to $699 million received in 2017.

The decline of diaspora remittances is mainly attributed to the preference to send in-kind remittances by the diaspora and the interception of remittances in South Africa by cross border traders.

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