Ukrainian labor migrants transferred USD 12 billion to motherland in 2019

Significant money inflows were instrumental in terms of improving the currency exchange rate, – National Bank of Ukraine19:44, 4 February 2020Open source

In 2019, Ukrainian labor migrants conducted money transfers to their families to the overall amount of 12 billion U.S. dollars. The press office of the National Bank of Ukraine reported that, replying to the request by Hromadske.

“Good export indexes, record-large crop yield, the moderate growth of the price of goods (thanks to the low prices on energy carriers), as well as stable high volumes of inflows from labor migrants (about 12 billion dollars) defined the favorable situation on the currency market”, reads the message.

Significant money inflows were instrumental in terms of improving the currency exchange rate in 2019. In December 2019, the rate of dollar exchange rate made UAH 23.2 per 1 USD (5 UAH-increase since the beginning of the year).

Earlier, Finance Minister Oksana Markarova claimed that Ukraine may stop cooperation with the International Monetary Fund after the fulfillment of new three-year program. “The IMF program, upon which we have already reached the agreements at the management level, is obligatory for three years. But after its complete fulfillment, we may leave the IMF, she posted on Facebook.

(C)112UA 2020

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