{"id":129029,"date":"2021-05-15T10:10:05","date_gmt":"2021-05-15T14:10:05","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=129029"},"modified":"2021-05-15T10:10:05","modified_gmt":"2021-05-15T14:10:05","slug":"antigua-barbuda-received-us-25-million-in-remittances-last-year","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/antigua-barbuda-received-us-25-million-in-remittances-last-year\/","title":{"rendered":"Antigua & Barbuda received $US 25 million in remittances last year"},"content":{"rendered":"
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Over US $15 billion was sent back to the Caribbean region in remittances last year, a\u00a0News Americas\u00a0<\/a>analysis of the latest World Bank report on global remittances has found.<\/p>

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Three Caribbean countries received the most despite the global pandemic.<\/p>\n

The Dominican Republic received US$8.3 billion in remittances last year while Haiti received US$3.1 billion and Jamaica US$3 billion.<\/p>

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Other countries received the following amounts:<\/strong><\/p>

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Guyana \u2013 US 361 million<\/p>\n

Trinidad & Tobago \u2013 US 178 million<\/p>

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Barbados \u2013 US 108 million<\/p>\n

Dominica \u2013 US 49 million<\/p>

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Grenada \u2013 US 48 million<\/p>

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St. Vincent and the Grenadines \u2013 US 44 million<\/p>\n

St. Lucia \u2013 US 41 million<\/p>\n

Sint Maarten \u2013 US 33 million<\/p>\n

St. Kitts and Nevis \u2013 US 26 million<\/p>\n

Antigua & Barbuda \u2013 US 25 million<\/p>\n

Turks & Caicos \u2013 US 7 million<\/p>\n

Suriname \u2013 US 1 million<\/p>\n

Citing the data on Thursday, Invest Caribbean CEO, Felicia J. Persaud, presenting at a National Bar Association panel on \u2018Africa And The Caribbean Region: Bridging the Diaspora through International Trade & Investment,\u2019 said the time had come for the Caribbean and Africa to turn the billions of remittances into an Africa and Caribbean Diaspora Fund.<\/p>\n

Identifying the shared issue of lack of access to capital faced by businesses in both regions, Persaud challenged fellow panelists and the Association to join Invest Caribbean in making such a fund a reality.<\/p>\n

\u201cWe are talking about a combined US 60 billion conservatively that goes back to these regions annually. Imagine if we can turn that into a fund that delivers a return on investment for the sender plus helps develop economies and funds dreams,\u201d she said. \u201cThe power is really in our hands here in the Diaspora, if we can simply unite our human and financial resources.\u201d<\/p>\n

Stellar panelists who included Dr. Antonia Joy Kategekwa of the UN Development Programme (UNDP); Efe Ukala the Founder of ImpactHER; Florizelle Liser; President and CEO of the Corporate Council on Africa; and Simone Williams, the founder and managing attorney of Williams Global Law, explored structural impediments to international trade and investment that impacts the Diasporas as well as targeted solutions such as the New African Continental Free Trade Area. It was moderated by Attorney James Woods, Jr., chair of the international partnership committee of the NBA and also included an address by Congresswoman Stacey Plaskett of the US Virgin Islands and President of the NBA, CK Hoffler.<\/p>\n

The great potential of using diaspora investments to finance development in the Caribbean and Africa has been argued by diverse studies and advocated by the World Bank, IMF, the African Development Bank, diaspora organizations and a wide range of other reputable institutions. However, there are hardly any structured diaspora mutual funds, and only four African countries have ever issued bonds packaged and targeted specifically for the African diaspora. The National Bar Association was founded in 1925 and is the nation\u2019s oldest and largest national network of predominantly African American attorneys and judges.<\/p>\n

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Over US $15 billion was sent back to the Caribbean region in remittances last year, a\u00a0News Americas\u00a0analysis of the latest World Bank report on global remittances has found. Three Caribbean countries received the most despite the global pandemic. The Dominican Republic received US$8.3 billion in remittances last year while Haiti received US$3.1 billion and Jamaica […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-129029","post","type-post","status-publish","format-standard","hentry","category-economy"],"yoast_head":"\nAntigua & Barbuda received $US 25 million in remittances last year - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/antigua-barbuda-received-us-25-million-in-remittances-last-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Antigua & Barbuda received $US 25 million in remittances last year\" \/>\n<meta property=\"og:description\" content=\"Over US $15 billion was sent back to the Caribbean region in remittances last year, a\u00a0News Americas\u00a0analysis of the latest World Bank report on global remittances has found. 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