The main point of the article was that migrant workers send more money back homethan their countries receive in foreing aid.Ukraine seems to be the case too.
If you look at the following graph, you can see that the remittances (measured in current US dollars) reached almost $6 billion in 2008. FYI, the total amount of foreign aid that Ukraine received between 1991 and 1999 was only $4 billion (current US dollars).
After adjusting for inflation, Ukraine received$5,2 billion in foreign aid between 1991 and 1999 (I used BLS’s CPI data).
An annual amount of international remittances still exceed an amount of foreing aid that Ukraine received in almost ten years!
Leo A. Krasnozhon is a visiting assistant professor of economics at the University of Texas at Arlington. He is also a fellow at the Property and Environment Research Center in Bozeman, Montana, and Institute for Humane Studies in Arlington, Virginia. His blog can be found here.
