Zimbabweans remit US$490m a year

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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