Officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2 percent this year to reach $630 billion. This follows an almost record recovery of 8.6 percent in 2021, according to the World Bank’s latest Migration and Development Brief released on May 11, 2022.
Remittances to Ukraine, which is the largest recipient in Europe and Central Asia, are expected to rise by over 20 percent in 2022. However, remittance flows to many Central Asian countries, for which the main source is Russia, will likely fall dramatically. These declines, combined with rising food, fertilizer, and oil prices, are likely to increase risks to food security and exacerbate poverty in many of these countries.
At this online seminar, Dilip Ratha, Lead Economist, Migration and Remittances and Head of KNOMAD, presented the main points of the report.
Data/Time:
8am-9am, Tuesday, July 12, 2022 (Japan Standard Time)
(This event has been rescheduled.)
Speaker:
Dilip Ratha
Lead Economist, Migration and Remittances and Head of KNOMAD, World Bank
Presentation material:
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