Gloomy American economy slows down diaspora remittances

Kenya’s diaspora remittances have continued to grow with projections indicating a new record high for 2023. FILE PHOTO | POOL

Diaspora remittances into Kenya have slowed down on the economic hardships faced by Kenyans in the US, which are partly linked to rising interest rates.

The inflows from Kenyans living and working abroad have fallen behind the previous tally on a year-to-date basis.

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Note: The results are not exact but very close to the actual.