IN 2021, Jamaicans visiting the island used online platforms to remit money for their own use. The method delivered more cash for use in-island, on some platforms, than if they were to visit local banks or cambios to get Jamaican currency in exchange for their US dollars and other foreign currency.

Some remittance platforms reported that the increase in online remittances was significant from 2020. During last year as well, some residents reported benefiting from stimulus payments shared by relatives resident in the United States.

Whatever the cause, Jamaicans in the year ended received more from relatives living abroad than they have gotten at any other time in the island’s history.

The Bank of Jamaica (BOJ) this week released data for Jamaica which sho

https://www.jamaicaobserver.com/business-observer/record-remittances_242807