According to the Bank of Ghana who disclosed this in its Monetary Policy Committee (MPC) report April 13, 2012 the amount represented a year on year growth of 10.6%.
“Total inward remittances through the banking system for the first two months of 2012 amounted to $2.9 billion, representing a year on year growth of 10.6%,” the report said.
Transfers to individuals, the central bank indicated accounted for $311.6 million constituting 10.7% of the total inward transfers.
Remittances are mostly sent by Ghanaians living abroad to their relatives.
By Ekow Quandzie