Financial inflows hit record highs

Financial inflows hit record highs

Total external financial flows to Africa in 2014 grew to a record $200 billion, which was four times the figure for 2000, according to the African Development Bank (AfDB). The total included remittances from Africa’s diaspora, which increased by more than 10% to reach $67bn last year, said the bank’s annual report for 2014 (306-page / 4.70 MB PDF). Remittances to the continent represented the “largest source of foreign financial flows” and exceeded official development…

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