Remittances to Mexico Rise 5% in 1st Quarter

Latin American Herald Tribune, May 2, 2011

Emigrants’ remittances to Mexico increased 5.48 percent between January and March over the same period in 2010, Mexico’s central bank said Monday.

In the first three months of the year, remittances from outside the country rose to nearly $5.1 billion, a jump from the $4.83 billion in the first three months of 2010.

In the first quarter there were 15.7 million transfers, 1.9 percent more than in the same period the year before.

Mexico’s central bank said that remittances in March totaled $2.05 billion, significantly ahead of the $1.65 billion in February.

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  • Mr.White

    The United States is Mexico’s welfare system. With figures like that, you can see why Mexico is in no hurry to keep their illiterate peasants on their side of the wall.

  • Bil Corr

    In an earlier era, transfers from COUNTRY A to COUNTRY B were in gold and silver. Gold was exported in vast quantities from Mexico and, later, silver from China.

    Transfers in US dollars are different [now, these days, they are on paper or on computer screens and not in raw folding cash in a suitcase] in the sense that a dollar can be traded between Mexico and Cambodia and then to China and then to Greece but ultimately the value of a dollar is determined by the Fed.

    Every dollar exported benefits the USA sooner or later.

    It is, politically, disgraceful that immigrant or sojourner Mexicans are doing jobs which low-skilled Americans ought to be doing, but the dollar value of currency leaving the country actually benefits 95+% of Americans.

    The other 5% are voiceless; they neither read much nor vote significantly.

  • Anonymous

    Which is why we need to make a pair of choices:

    1. Will we wait for the failed Mexican narco kleptocracy to collapse into total anarchy before denying any further transfer payments through our welfare system -to- the ’emigrant’ Mexicans.

    2. Will we stop allowing the use of transfer remittances -after- those billions begin to empower druglord politics (assuming they are not already as part of a protection racket…)?

    Either way works but the point is that if Mexicans have the means to send ‘southern relatives’ some 15,700,000 remittances in a 3 month period worth 5,100,000,000 dollars (always more stark with all the zeroes in place, yes?), they have more money than they need to stay off welfare up here.

    And what they are sending is doing _no good_ down there.

  • Mr.White

    Remember, that mexican pushing her triple wide stroller down the street, with one in the oven is the same one receiving welfare, section 8, WIC, food stamps, and a host of other benefits on behalf of her anchor babies.

    With all that assistance, (as well as her “husbands” under the table job)it’s no wonder they have enough left over to send billions back to their beloved mexico every year.

    America is mexico’s welfare system!