São Paulo – Remittances from Sudanese living outside of the African continent account for 6% of the country’s economy, according to an article published by news agency Panapress based on a World Bank report. Sudan is the second largest destination of remittances from abroad in Africa, after Nigeria. Worldwide, the leading target country is India.
The report points out that by the end of the year, Sudan should receive US$ 3.2 billion, whereas the country had a Gross Domestic Product of US$ 54.6 billion last year. The figures for Nigeria, however, are much higher, as the country should receive US$ 10 billion in remittances made by expatriates. In total, Africans should receive US$ 21.5 billion in remittances from outside the continent.
The report is called "Migration and Remittances." Following Sudan, other African countries that should receive significant remittances are Kenya, at US$ 1.8 billion, Senegal, at US$ 1.2 billion, South Africa, at US$ 1 billion, Uganda, at US$ 800 million, Lesotho, at US$ 500 million, and Ethiopia, at US$ 387 million. The remittances usually come from Africans who work away from their countries and continent of origin.
"The fact that remittances are so significant, arrive in cash and go directly to the families means that they have a considerable impact on reducing poverty, financing housing and education, basic needs, and even investment in companies," says the manager of the World Bank’s Migration and Remittances Team, Dilip Ratha.
The World Bank informs that remittances have dropped by 4% from 2008 to 2009, but estimates that the trend for coming years is one of growth. "We estimate that the resumption will continue in the next two years, and remittance flows into the continent will probably reach US$ 24 billion by 2012," said Ratha.
Worldwide, remittances should total US$ 440 billion by the end of the year, as against US$ 416 billion in 2009. Approximately three quarters of these funds, or US$ 325 billion, go to developing countries. The list of receiving countries is topped by India, China, Mexico, Philippines and Poland.
*Translated by Gabriel Pomerancblum
