Zimbabweans remit US$490m a year


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Zimbabweans are remitting at least $490 million a year, enough to finance the entire budgets of the Ministries of Health and Education which account for nearly a third of the government budget, a statement by the International Fund for Agriculture Development (IFAD) said today. IFAD, however, said the vast majority of Zimbabwean migrants regularly send back remittances it was difficult to obtain accurate information as the vast majority of remittances are currently transferred through informal channels.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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