The nation has kicked off talks with ratings agencies to lay the groundwork for a return to international debt markets
World Bank says Ukraine war slowing global remittances growth
The war in Ukraine will help slow the growth of officially recorded remittance flows to low- and middle-income countries to an estimated 4.2 percent this year from a strong 8.6 percent rebound in 2021, the World Bank said on Wednesday.
Published : 11 May 2022, 02:38 PM
Updated : 11 May 2022, 02:38 PM
The World Bank said in its latest Migration and Development Brief that it expects remittances to Ukraine, the largest recipient in Europe and Central Asia, to rise by over 20 percent in 2022, but remittance flows to many Central Asian countries, will likely fall dramatically. Russia, hit with crippling sanctions by Western countries over its invasion of Ukraine, is the main source of remittances to Central Asia.
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