remittances

Diaspora, NGO Remittances Decline 16 Percent

Remittances - of both Diaspora and non-governmental organisations flows - into Zimbabwe fell 16 percent in the first quarter to US$192.9 million against US$231.4 million recorded in the same period a year ago.

According to the Ministry of Finance, the slowdown is attributed to slow recovery in global and regional economic activity while the stronger United States dollar also meant that remittances from countries such as South Africa would have a much lower value if converted.

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