BISHKEK, Kyrgyzstan, April 12. A total of $464.6 million was transferred through money transfer systems to Kyrgyzstan from January through February 2024, which is a 39.9 percent increase compared to the same period in 2023 ($332.2 million), Trend reports.
According to the National Bank of Kyrgyzstan, $205.6 million was transferred in February 2024, which is a 24 percent rise compared to $165.8 million in February 2023. However, this amount was 20.6 percent lower than the transfers in January 2024 ($259 million).
The majority of transfers in February 2024 came from countries that are members of the Commonwealth of Independent States (CIS), totaling $190.2 million sent to Kyrgyzstan. Notably, $189.7 million originated from Russia, $200,000 from Kazakhstan, and $300,000 from other CIS nations.
From non-CIS countries, $15.4 million was transferred to Kyrgyzstan, including $4.5 million from the US, $1.3 million from Türkiye, and $9.6 million from other non-CIS countries.
By the end of 2023, the volume of money transfers to the country amounted to $2.706 billion, which is 12.3 percent, or $380.4 million, less than in 2022 ($3.086 billion). The majority of the money came from CIS countries, totaling $2.550 billion. Specifically, $2.531 billion came from Russia, and $16.7 million came from Kazakhstan. And $155.3 million was transferred from non-CIS countries.