Add to favorite
 
123
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS


Buzz Barometer: Nine Countries Suffer Rouble Devaluation
January 19, 2015 19:38


Photo Credit: http://www.globalmeatnews.com
The Guardian has published an alarming report on the fallout of the rouble devaluation for Russia’s neighbors.
 
The migrants from the former Soviet republics that the country used to rely on so heavily are considering going back home because their earnings were halved by the foreign exchange fluctuations.
 
“Russia’s rouble crisis poses threat to nine countries relying on remittances,” says the Guardian’s Shaun Walker.
 
“According to data projections based on World Bank figures, nine countries that rely heavily on roubles sent home from Russia could collectively lose more than $10bn in 2015,” he adds.
 
“I’ve sacrificed starting a family, I’ve sacrificed any kind of normal life to work here, and now I’m only able to send home a few hundred dollars a month,” the newspapers quotes Aziz, a car mechanic, as saying.
Amid harsher rules for obtaining work permits, millions of migrant workers are scratching their heads whether they’d rather leave.
“The tendency could be problematic for Russia too, which is expected to rely on immigrant labour for the formidable building projects as the country prepares to host the 2018 World Cup”
“21% of Armenia’s economy, 12% of Georgia’s, 31.5% of Kyrgyzstan’s, 25% of Moldova’s, 42% of Tajikistan’s, 5.5% of Ukraine’s, 4.5% of Lithuania’s, 2.5% of Azerbaijan’s and 12% of Uzbekistan’s, rely on remittances,” the newspaper cites the World Bank data.
Earlier, Russia-IC reported on the survey by Pew Research which put Russia second in the number of migrant workers. Based on the data from the United Nations and the World Bank, the study looks at the shifts in patterns of global migration and remittances.
The list of the destination countries is topped by the US, with 45.8 million, while second place Russia has become a second home for 11 million migrants.

Surprisingly, the number of migrants in Russia has remained flat since 1990, unlike the US where it doubled.

In terms of remittances, which is the money they send their families, Russia is far below the world’s leaders like India, with $71 billion, China, with $60 billion, and the Philippines, with 26 billion. The amount of remittances from Russia totals just $6.4 billion.

According to Pew Research, the “total number of international migrants rose from 154 million in 1990 to 232 million in 2013 – but remained steady as a 3 percent share of the globe’s growing population.”

The full report is available here.

The issue of migrants has come into spotlight repeatedly over the past years, with many called for a visa regime to be introduced between Russia and the CIS countries, including Tajikistan and Uzbekistan. 

Just recently, the killing of a young man sparked protests and violence in southern Moscow and the shutdown of a major vegetable storage depot.

You can browse for more news on migrants in Russia by using our search button.  




Author: Mikhail Vesely

Tags:      

Next Previous

You might also find interesting:

Sanctions Make ExxonMobil Search For New Deposits Why Should You Invest in Tyumen Region? Oil goes East Rouble's Volatility Aeroflot Reached the 18th Place In Terms Of Passenger Traffic Globally









Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
The Kaluga Region  Mercedes-Benz Fashion Week Russia  Nobel prize laureates  Konstantin Khabensky  Maykop  Russian tourism  Russian science  aircraft  animation  Exhibitions in Moscow  Russian interior  Mendeleyevs Table  Russian Cinema  Festivals in Moscow  Musical Comedy Theater of Petersburg  wildfires  Russian spacecrafts  Alexander Porokhovschikov  Orest Vereisky  Rome  Shukhovsky Recreation Cluster  Russian regions  travel to Russia  Paleontology  Moscow Museums  Open-Air Concerts  Lyudinovo  Moscow  Ulyanovsk  Russian Literature  public transport  Ruza  Sochi 2014  Chukotka  Acts of Terror  Russian circus  Woodwork  Vostok station  Russian Poetry  Russian visa  Unusual Monuments  St. Petersburg  Desyatinny Monastery  Beard  Tea Route  Floating Hotels  Russian business  FIFA World Cup   The Romanov Family  Russian media 


Travel Blogs
Top Traveling Sites