Remittances to Jamaica exceeded USD$3.3B in 2021

April 6, 2022

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

Senator Leslie Campbell, minister of State in the ministry of foreign affairs and foreign trade, revealed the figures at the Global Diaspora Summit in Dublin, Ireland. He noted 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 minister of state 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”.


Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.