{Remittances in 2013 rose to a historical high despite a significant erosion of the growth rate in comparison to the previous year.}<\/p>\n
Kenyans living abroad sent back home Sh110.76 billion ($1.29 billion) compared to the Sh100.4 billion ($1.17 billion) sent in 2012, setting a new record. Despite this, remittances in 2013 posted the slowest growth rate since 2010. <\/p>\n
Last year, diaspora inflows grew 10.2 per cent in comparison to the 31.3 per cent growth posted in 2012. In 2011 remittances rose 38 per cent.<\/p>\n
Dr Joy Kiiru, a Nairobi university economist who has studied diaspora remittances in Kenya, said the slower growth could be attributed to a lagged response to the economic crisis that has had its grips on Europe and the United States over the last few years.<\/p>\n
\u201cKenyans living abroad have remained largely resilient in terms of sending money back home but I think this is the effect of the crisis. It was not felt immediately. There was a time lapse,\u201d said Dr Kiiru.<\/p>\n
Following the financial crisis in 2008-2009, many of the world\u2019s economies plunged into recession and are only just beginning to come up for air. <\/p>\n
World Bank research shows that migrants living in developed economies were among the most affected demographic groups by the high levels of unemployment as a result of recession. According to Dr Kiiru, the potential positive impact of economic recovery is also unlikely to be felt in Kenya immediately.<\/p>\n
However, Mr Robert Bunyi, a market analyst, said based on the broad statistics provided by Central Bank, it is \u201cvery hard\u201d to draw conclusions on diaspora remittance trends.<\/p>\n
Daily Nation<\/p>\n","protected":false},"excerpt":{"rendered":"
{Remittances in 2013 rose to a historical high despite a significant erosion of the growth rate in comparison to the previous year.} Kenyans living abroad sent back home Sh110.76 billion ($1.29 billion) compared to the Sh100.4 billion ($1.17 billion) sent in 2012, setting a new record. Despite this, remittances in 2013 posted the slowest growth […]<\/p>\n","protected":false},"author":2,"featured_media":2000050079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[99],"byline":[170],"hashtag":[],"class_list":["post-12258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-greatlakesnews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000050079,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton12258.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton12258.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton12258.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton12258.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton12258.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton12258.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/12258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=12258"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/12258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000050079"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=12258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=12258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=12258"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=12258"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=12258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}