Wednesday, June 15, 2022

Sanctions on Russia already hitting remittance-dependent countries in Central Asia: IOM

As the UN marks the International Day of Family Remittances on Thursday, there is concern that economic contraction and job losses in Russia - likely to now rise further as a result of sanctions imposed since the invasion of Ukraine - are already having an impact on remittance-dependent communities in Central Asia, according to experts with the International Organization for Migration (IOM).

The countries of Central Asia retain their Soviet-era socio-economic and political ties with the Russian Federation. Migration, and in particular remittances, is at the center of this intricate, historical relationship, say Hyo Jeong Jung, IOM Labour Migration Specialist based in Kyrgyzstan, and Michael Newson, Senior Regional Labour Mobility and Social Inclusion Specialist, based at IOM in... Read More