Remittances Exceed $3.3 Billion In 2021

Remittance inflows exceeded US$3.3 billion for 2021, representing an increase over the US$2.9 billion for 2020.

Minister of State in the Ministry of Foreign Affairs and Foreign Trade, Senator the Hon. Leslie Campbell, in revealing the figures at the Global Diaspora Summit in Dublin, Ireland, recently, said that the increase in remittances during the pandemic is a “strong testament of commitment” of the diaspora community.

He noted that the Ministry endorses the position of the World Bank, which has indicated that “facilitating the flow of remittances to provide relief to strained household budgets should be a key component of government policies to support global recovery from the pandemic”.

“We endorse this position and support efforts to partner with private entities to facilitate research, dialogue, development, and implementation for the safe and efficient transmission of remittances,” he said.

The State Minister added that the Ministry will also support efforts that promote financial literacy for migrants and the recipients of these transfers “to enhance volume, management and development impact of these remittances”.

He said that the diaspora is recognised as “investors, partners, marketers, networkers, and key collaborators with the Government of Jamaica, businesses and civil society”.