Diaspora remittances into the country dropped nearly seven percent in the first quarter of 2017, despite a three percent central bank incentive, official figures show. But the Treasury bulletin for the first three months of 2017 shows Diaspora remittances dropped 6,7 percent, to $180 million,compared to $193 million in the corresponding period last year. "The decline in Diaspora remittances is partly attributed to the sluggish performance of the global economy as well as errors and omission arising from conduct of remittances through informal channels," reads the bulletin. Zimbabwe has seen a 17 percent decline in official remittances, from $935 million recorded in 2015 to $780 million last year. Despite the decline, Zimbabwe hopes to receive at least $1,2 billion from its estimated three million non-resident citizens this year.

Source: The North Africa Journal June 22, 2017 11:26 UTC