Remittances from the Diaspora Stelling1 #12535Remittances amounts to about $5 billion annually - representing over 25% of GDP in some countries and saving others from complete economic collapse. |
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- CitatenVoeg citaat toeList by: CiterankMapLink[1] ZIMBABWE: Remittances saved the country from collapse - The official sanctioning of foreign currency as legal tender in Zimbabwe to tackle hyperinflation is bringing into sharp relief how remittances have staved off the country's complete collapse in
Citerend uit: UN Office for the Coordination of Humanitarian Affairs Publication info: February 20, 2009 Geciteerd door: Earl Burrowes, Sr. 5:01 PM 20 February 2009 GMT URL: |
Fragment- Foreign currency remittances from Zimbabweans living outside of the country - excluding hand-to-hand transfers - were expected to double in 2009 from an estimated US$361 million in 2008, according to projections by the International Fund for Agricultural Development, a UN agency dedicated to eradicating rural poverty.
Other estimates have put all remittances from expatriates in Britain to Zimbabwe at about US$1 billion annually.
"If this is true, it puts a new dimension on this issue - it shows that the actual Zimbabwe-origin population in the UK is much bigger than estimated, and that they are sending much more money home than we ever imagined," Eddie Cross, a prominent member of the Movement for Democratic Change (MDC), told IRIN.
"This would explain where all the foreign currency that keeps this country going, is coming from; it explains why many more people are not actually dying from the present crisis in terms of hunger, malnutrition and neglect." |