(MENAFN- AzerNews)
By Trend
Uzbekistan is likely to experience major declines in remittance
flows in 2022, Trend reports via World Bank latest report.
According to the WB, the crisis in Ukraine and anti-Russian
sanctions will lead to a drop in officially registered remittance
flows by 21 percent in Uzbekistan.
The Global Knowledge Partnership on Migration and Development
(KNOMAD), which is an initiative of WB, projects that cash flows to
low- and middle-income countries in Europe and Central Asia will
decline by 1.6 percent in 2022 after rising by 7.8 percent in
2021.
Despite the increase in transfers to Ukraine by more than 20
percent, Western sanctions imposed on Russia will lead to
difficulties with transfers to the countries of Central Asia and
the Caucasus.
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