Zimbabwe records 57.6 % increase in diaspora remittances

Diaspora remittances flow into Zimbabwe has increased by a massive 57.6% from U$635.67 million in 2019 to US$1 billion in 2020, according to a latest Reserve Bank of Zimbabwe report.

According to the RBZ report, the total foreign currency receipts for the period January to December 2020 amounted to US$6.3 billion, compared to US$5.5 billion received during the same period last year.

Meanwhile, foreign direct investment has drastically fallen from US$52.47m in 2019 to US$40.06m in 2020.

-Zwnews

Read the statement below;