Follow the money: Remittances to Mexico

[c1ue]

Remittances in Mexico: a mirror on the hollowing out of the US?

http://irps.ucsd.edu/assets/004/5380.pdf

Mexico remittances 1960 2004.png

http://migration.ucdavis.edu/mn/more.php?id=3519_0_2_0

Remittances to Mexico fell to $25 billion in 2008 from $26 billion in 2007, according to the Bank of Mexico, and the drop accelerated in 2009. Remittances were $9 billion in 2001, and increased with a rising number of migrants in the US and more remittances flowing through formal banking channels.

http://idbdocs.iadb.org/wsdocs/getdo...ocnum=35788832

In 2010, remittance flows to Latin America and the Caribbean marked the end of the downward trend brought on by the 2008-2009 global financial and economic crisis. The overall regional volume of remittances sent home reached levels similar to the previous year with a slight increase of 0.2%. However, higher inflation rates and stronger local currencies in many countries resulted in an -8.7% drop in the value of these remittances, once received.

...

In Mexico, remittance inflows continued to show a close link with the economic situation in the United States, from which almost all of its transfers are sent. Just as remittances to Mexico fell sharply in 2009 (-16%), affected by the drop in economic activity in the United States

http://m3report.wordpress.com/2010/1...-from-us-down/

The individual monetary remittances into Mexico from abroad dropped 1.69% during the first nine months of the year [2010] in comparison with the similar period during 2009. Those remittances, almost all from the United States, have reached 16 billion 156 million dollars this year, according to figures from the Bank of Mexico. After petroleum production, remittances are Mexico’s second largest source of income.

[flintlock]

Re: Follow the money: Remittances to Mexico

I can't think of any other single group that has taken it on the chin harder during this recession than Mexican construction workers. Every construction site was simply full with them, around here at least. Where did they all go? They can't all be working at McDonald's and spreading pinestraw.