Remittances to Mexico drop as U.S. economy slows, enforcement increases

Posted on: January 31st, 2008
Filed Under: Blogante Business, Blogante Headlines, Business, Eye Openers, Hispanic News, Top Stories
Tags: children, Mexico, remittance, remittances

For the first time in years, the flow of remittances – greenbacks from Mexico’s many migrants in the U.S. – was virtually flat along what the World Bank calls the planet’s largest migration corridor. Mexico’s Central Bank reported Wednesday that it received nearly $24 billion in 2007, compared with $23.74 billion in 2006, after several years of double-digit increases.

The government cited the sluggish economy in the U.S. and increased vigilance by U.S. officials.

“We used to be a community of lonely women and children,” Mrs. Ramírez said. “Now, look around, all you see is a bunch of old people. We don’t get much money from the United States anymore.”"*