Rwanda: Remittances Up 24 Percent Despite Global Recession

Kigali — Rwanda's private inflows from abroad have increased by 24 percent in the first half of 2009, so far defeating earlier forecasts that remittances will drop by 15 percent at the end of the year.

Viviane Mwitirehe, Director of Statistics in the National Bank of Rwanda told Business Times yesterday that in the first six months of this year statistics indicate that $85.69 million (Rwf48.39 billion) was remitted into the economy compared to $69.13 million (Rwf38.9 billion) in the same period last year. Read more