Story by Stanley James, Business Editor
THE Reserve Bank of Zimbabwe, Dr John Mushayavanhu says the current diaspora remittances policy remains unchanged contrary to social media reports that it will be reviewed.
In statement, the central bank chief noted that in terms of the current exchange control regulations, diaspora remittances are treated as free funds, hence Zimbabweans who receive money from abroad will not be forced to change their free funds at any point of collection and at any other time.
The Governor’s sentiments are coming at a time when the diaspora remittances continue to play an important role in the economic growth trajectory of Zimbabwe.
The statistics from the central bank show that remittances account for over 17 percent of the country’s foreign currency inflows averaging above US$10 billion annually.
