Posted on December 2, 2009

Mexican Remittances Tumble 36 Percent

MSNBC, December 2, 2009


The Bank of Mexico says Mexicans abroad sent home $1.69 billion in October 2009, nearly $1 billion less than October 2008.

Statistics published on the bank’s Web site Tuesday indicate migrants sent $18.1 billion in the first 10 months of 2009, a 16 percent drop from the same period last year.

Remittances sent by migrants have been Mexico’s second largest source of foreign income, falling only behind oil exports. {snip}