Africa-Press – Cape verde. Remittances in hard currency from emigrants in the first half of the year were 3% higher than the amount recorded last year, for the same period, according to the latest data from the central bank, consulted by Lusa.
According to the Bank of Cape Verde (BCV), the amount reached approximately 15 billion escudos.
With the exception of April, in all the other five months, total remittances increased year-on-year, with an average monthly growth of approximately 3%.
The two countries that contribute more than half of the amount, Portugal and the USA, recorded remittance increases of approximately 7%.
The municipalities of Praia, São Vicente, Santa Catarina, São Filipe, and Tarrafal de Santiago are, in that order, the main destinations for remittances.
The money and resources sent by emigrants are one of the pillars of the national economy (in addition to tourism), based on the diaspora, which, with approximately 1.5 million people, represents three times the country’s population.
Foreign exchange remittances reached a record 30.6 billion escudos (278 million euros) in 2024.
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