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Liberia: Diaspora Remittance Contributes Third of Country’s GDP to Economy, Second Highest in the World
(0)“An astounding World Bank’s report of 2012 on global remittances, Liberians in the Diaspora out-beat per GDP other Africans living abroad by remitting $378 million in 2012, an increase of $18 million from 2011 $360 million remittance.
These remittances, according to World Bank’s report account for third of the country’s GDP, an indispensable fulcrum of Liberia’s economy while foreign aid contributes to less than half of the Diaspora remittance to the country’s GDP. These staggering remittances make Liberia the second highest recipient country of Diaspora remittances, coming second to Tajikstan and the highest in Africa”.
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