Jamaica: Remittance flows increase

GKMS expects business to remain fairly robust even with problems being faced by indebted Eurozone countries.

“… Since the majority of remittances that come into Jamaica may be described as non-discretionary transfers – that is to say, money is sent for daily care purposes, example, spouse, children and parental care – this form of remittance will continue, even if there is a recession,” said GKMS Vice-President Noel Greenland.

“In times of crises among senders, non-discretionary flows may reduce in size, but they will not cease. Discretionary flows, however, will be affected,” he said.

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