Money Markets
Remittances cushion consumers against inflationary pressures
A bank employee counts one hundred dollar notes at a bank. Photo/REUTERS
By John Gachiri
(email the author)
Posted Wednesday, February 3 2010 at 00:00
Posted Wednesday, February 3 2010 at 00:00
This comes in the wake of the International Monetary Fund (IMF) predictions that 2010 is off to a good start led by newly industrialised and emerging economies which would record growths of 4.8 per cent. Sub Saharan Africa is not far off with expected growth of 4.3 per cent.
The biggest chunk of the remittances came towards the second half of the year which corresponded with the recovery of the global financial system according to CBK.
.
RSS