Remittances from Zimbabweans abroad have surpassed foreign direct investment, portfolio investment and official development assistance since 2009.
According to the Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met last Friday, remittances accounted for 16% of the US$9.4 billion that came into the country in the 10 months to the end of October this year.
The MPC therefore recommended that the government should extend fiscal and non-fiscal incentives for FDI to diaspora investments in the country.
Below is the full MPC statement:
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