Keyword: remittance

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  • Trump threatens Mexico's biggest cash source

    01/26/2017 12:16:33 PM PST · by TigerClaws · 79 replies
    Mexico's biggest cash cow is under threat from President Donald Trump. The country's largest source of cash comes from Mexicans living in the United States. That is now under the microscope after Trump issued an executive order Wednesday to start building a wall on the border. During his campaign, Trump said multiple times that Mexico will pay for the wall. He even threatened to halt or tax cash transfers -- known as remittances -- from the U.S. to Mexico if the country refused to pay for it. Powered by "They will reimburse us for the cost of the...
  • Square Market Accepts Bitcoin

    03/31/2014 2:50:19 PM PDT · by TsonicTsunami08 · 29 replies
    The Corner,Square Engineering ^ | March 31, 2014 | Square Market
    Sellers should never miss a sale. We’re building tools so sellers can accept any form of payment their customers want to use. Making commerce easy means creating easy ways to exchange value for everything from a massage to a DODOcase for your iPad.
  • Revealed: How immigrants in America are sending $120 BILLION to their struggling families back home

    01/31/2013 11:38:18 AM PST · by Obama_Is_Sabotaging_America · 25 replies
    Mail Online ^ | January 31, 2013 | Simon Tomlinson
    Migrants working in the United States sent a staggering $120 billion back to their families last year, it was revealed today. The amount of money being sent by migrants across the entire world reached $530 billion last year, making it a larger economy than Iran or Argentina, the data from the World Bank showed.
  • Mexico sees record 15.7 pct drop in remittances

    01/28/2010 12:29:01 PM PST · by SwinneySwitch · 15 replies · 551+ views ^ | 01/28/2010
    MEXICO CITY — Money sent home by Mexicans abroad plunged a record 15.7 percent in 2009 as migrants worldwide struggled to find work during the global economic slowdown, the central bank reported Wednesday. Remittances — Mexico's No. 2 source of foreign income after oil exports — totaled $21.2 billion in 2009, compared with $25.1 billion in 2008, the bank said. Since the bank began tracking remittances in 1996, it has recorded just one other annual decline — a 3.6 percent decrease in 2008, as the world financial crisis exploded. Central bank president Agustin Carstens attributed the latest drop to the...
  • Mexican immigration to U.S. off 40 percent, study finds

    07/22/2009 11:41:55 AM PDT · by Puppage · 16 replies · 653+ views ^ | 7/22/09 | Puppage
    Immigration from Mexico to the United States slowed at least 40 percent between mid-decade and 2008, according to the analysis, based on national population surveys in the United States and Mexico, as well as Border Patrol apprehension figures. The Mexican survey estimated that 1 million Mexicans left for the United States in a 12-month period beginning in 2006. Three years later, that number decreased to 636,000.
  • Immigrants in US are asking for money from home

    06/30/2009 9:49:09 PM PDT · by AH_LiveRight · 45 replies · 2,047+ views
    AP via Yahoo ^ | June 30, 2009 | SAMANTHA HENRY
    FAIRVIEW, N.J. – For five years, immigrant day laborer Leo Chamale wired money twice a month from New Jersey to his family in Guatemala. Recently, he stepped up to the money transfer window for a different purpose — to ask that his family send some of his savings back to him. "I hadn't worked for five months, and I was two months behind on rent, so I had them send $1,500," the 21-year-old Chamale said in Spanish. "My mother said, `That's a lot of money!'" With the U.S. economy in a ditch, money transfer agencies have been reporting a decline...
  • Cracking Down on ‘Blood Wire’ Money Could Hamper Mexican Cartels, ( WESTERN UNION )

    03/20/2009 11:39:03 PM PDT · by kellynla · 14 replies · 1,385+ views ^ | March 20, 2009 | Edwin Mora
    Mexican drug cartels use a “blood wire” to send money to drug and human smugglers, according to Arizona’s attorney general, who testified earlier this week before the Senate Judiciary Committee. “Western Union is by far the largest provider of illicit money-movement services, so it is the source of valuable information about illicit money movements and has been the focus of interdiction efforts aimed at criminal proceeds in transit,” Terry Goddard, Arizona’s attorney general, told senators. Goddard was one of several witnesses who testified March 17 before the Judiciary Committee and the Senate International Narcotics Control Caucus on law enforcement responses...
  • Why Not Tax 20% of the Illegal Wages Going to Mexico Via Money Orders?

    03/11/2009 4:42:44 AM PDT · by Robert A. Cook, PE · 7 replies · 594+ views
    3-10-2009 | Robert A Cook
    We are told that most of the money earned here by illegal aliens is sent back to Mexico (primarily), and is the source of billions of dollars of the Mexican economy. Much, much less goes to other south American and central American countries, but 80+ percent is to Mexico. If the money now sent to Mexico via money orders was taxed at 20%, and each transaction had a SSN attached for the sender to claim when "he" filed his taxes, then the "cash economy" now supporting illegals would be discouraged. The "cash" paid to illegals might still be laundered and...
  • Mexico in economic turmoil- dramatic drop in remittances from illegals working in the United States

    01/29/2009 9:04:58 AM PST · by AuntB · 23 replies · 782+ views
    Excelsior (Mexico City) 1/27/09 (full translation) The economic crisis which lashes the United States forces the Mexican workers, legal and illegal, to return to their places of origin. According to Carlos Villanueva, president of the World Association of Mexicans Abroad, (”AMME”) 30 percent of the nearly two million fellow countrymen who arrived in the country during the December season to spend the yearend holidays with their relatives have not returned to the United States for lack of a job which would guarantee their stay in the neighboring country. Villanueva explained that the contraction and recession in the world market has...
  • Mexican remittances drop for 1st time

    01/27/2009 2:24:01 PM PST · by GOPGuide · 12 replies · 570+ views
    AP ^ | 01/27/09 | AP
    This is AP so link only. There was 3.6% dropin remittances YOY.
  • Yearly Mexican Remittances Drop For 1st Time

    01/27/2009 3:06:25 PM PST · by Steelfish · 15 replies · 406+ views
    Yearly Mexican remittances drop for 1st time Associated Press Writer Julie Watson, MEXICO CITY – The money sent home by Mexican migrants fell in 2008 for the first time on record, Mexico's central bank said Tuesday — part of a global trend that could worsen as emigrants from developing countries lose jobs in the global financial crisis. Remittances, Mexico's second-largest source of foreign income after oil, plunged 3.6 percent to $25 billion in 2008 compared to $26 billion for the previous year, the central bank said. The percentage drop is nearly twice what the government had expected for the year,...
  • $24,000,000,000.00 (That's Billion) Sent "Home" To Mexico

    04/19/2008 5:12:20 PM PDT · by Clintonfatigued · 62 replies · 207+ views
    Red State ^ | April 19, 2008
    In 2007, "remittances," money sent back by Mexican workers to families in Mexico, beat out tourism as the second largest source of foreign money into the country. Only oil exports accounted for more. That is $24 billion that was taken out of the American economy. It was not spent in American stores. Best Buy sold fewer televisions. Ford sold fewer cars and trucks. Winn Dixie and Safeway sold fewer groceries. U.S. Steel sold less steel. And yes, even Exxon/Mobil sold less gasoline than it could have. Those fewer sales curtailed the growth of jobs for Americans in those companies. It...
  • Arizona cops bust ring smuggling cash to Mexico

    08/10/2007 6:20:05 PM PDT · by NormsRevenge · 4 replies · 626+ views
    Reuters on Yahoo ^ | 8/10/07 | Reuters
    PHOENIX (Reuters) - A criminal ring that Arizona police said used a shuttle service to smuggle drug and human trafficking profits to Mexico has been broken up with 47 people indicted, authorities said on Friday. Arizona Attorney General Terry Goddard said the firm shuttling passengers from Phoenix to Sonoyta, Caborca and Puerto Penasco in Mexico moved some $2 million a month in dirty money for at least 20 different human and drug trafficking organizations. The people indicted included drivers and other employees of the shuttle firm. They face a range of charges including money laundering, conspiracy and illegally conducting a...
  • Fewer Mexican Immigrants Are Sending Money Back Home, Bank Says

    08/10/2007 3:58:24 PM PDT · by Rick_Michael · 10 replies · 381+ views
    NYT ^ | August 9, 2007 | By JULIA PRESTON
    In those states, the percentage of Mexicans sending money home fell to 56 percent from January to June, from 80 percent in 2006... Bank officials, pointing to a survey of Mexican immigrants in the report, said the decline reflected a rising sense of insecurity and uncertainty about whether they would stay in the United States. Anticipating a possible move back to Mexico, these immigrants appear to be saving more. “They have decided because of the uncertainty of the future that they need to step back and save a bit,” said Donald F. Terry, general manager of the Multilateral Investment Fund...
  • Survey says fewer Mexicans are sending money home

    08/08/2007 5:01:52 PM PDT · by SwinneySwitch · 22 replies · 644+ views
    Brownsville Herald/AP ^ | August 8, 2007
    WASHINGTON (AP) - One in three Mexican migrants living in states where Hispanic migration is relatively new stopped sending money home this year. Anti-immigrant sentiment may be to blame, the Inter-American Development Bank reported Wednesday. In states considered "new destination" states for Latinos, such as Georgia, Pennsylvania and North Carolina, only 56 percent of Mexican migrants said they sent money home, compared to 80 percent the previous year. Migrants in these states previously had the highest remittance rate. By contrast, the rate of remittance for the first six months of this year was 66 percent - down from 68 percent...
  • Slow remittances from US migrants hit Latin America

    07/12/2007 4:37:07 PM PDT · by SwinneySwitch · 22 replies · 1,292+ views
    Reuters ^ | Jul 12, 2007 | Robin Emmott
    MONTERREY, Mexico, July 12 (Reuters) - Stricter U.S. border controls and a housing slump are cooling the once red-hot growth in remittances migrant workers send to Latin America, challenging economies to cut their dependence on the money flows. Cash sent home by Mexicans living abroad fell 5.5 percent in May, the first fall since 1999, and countries across Latin America forecast that the growth of remittance flows will slow substantially this year. "Remittances will definitely suffer a slowdown. We cannot depend only on remittances. We must increase our productive base, especially our exports," Honduras' central bank president, Gabriela Nunez, told...
  • Filipino remittances hit $12.8bn

    02/16/2007 3:17:45 AM PST · by Jedi Master Pikachu · 10 replies · 1,157+ views
    BBC ^ | Friday, February 16, 2007
    Globally, remittances make up about $230bn Money sent home by Filipinos working overseas last year totalled a record $12.8bn (£6.5bn), the Philippines' central bank has said.The remittances - a 20% rise on 2005 - account for about 10% of the country's economy, the bank added. Most of the eight million overseas workers are in the US or Middle East. According to the World Bank, the Philippines is the fifth-largest recipient of foreign remittances behind India, China, Mexico and France. It has forecast that Filipinos will send home about $14.1bn this year. Their remittances play an increasingly significant role in...
  • Illegal workers the talk of Texas (creative state bills filed to address problem)

    01/03/2007 9:51:00 AM PST · by Diddle E. Squat · 13 replies · 895+ views
    Houston Chronicle ^ | 1/3/07 | R.G. RATcliffe
    AUSTIN — They work as maids and busboys. They build homes and highways. They bone chickens on the way to market. They are worth billions of dollars to the Texas economy, but as members of the working poor they also are a drain of hundreds of millions of dollars from taxpayers. They are the 1.4 million illegal immigrants that the federal government estimates live in Texas. Half are divided evenly between the Dallas and Houston areas, according to the Center for Immigration Studies, with an additional 20 percent in the Lower Rio Grande Valley. Less than 5 percent live in...
  • Bank of America Openly Advertising Free Money Transfers to Mexico!!

    08/15/2006 11:36:23 PM PDT · by Minus_The_Bear · 42 replies · 1,066+ views
    This only caught my eye because some one I know is currently going through the immigration process in a legal manner... No free transfers for them though. There must be a sizable amount of banking business for BoA to offer this... something to think about.
  • Fruits of their American labor

    06/18/2006 12:49:04 PM PDT · by Graybeard58 · 23 replies · 1,023+ views
    Waterbury Republican-American ^ | June 18, 2006 | Joan Grillo (A.P.)
    BOYE, Mexico -- Clementina Arellano grew up with her six brothers in a shack in this dusty Mexican hamlet. Now 42, she's raising her sons in a spacious, 10-room mansion with Roman-style pillars at the doorway and a garden full of flowers and singing birds. How did she transform her fortunes so dramatically? By waiting tables and sweating in a furniture factory for about 10 years in Hickory, N.C., and sending home up to $500 a month. A couple of doors down, Berta Olgin, lives under a leaky roof, with skinny sheep gnawing at sparse patches of grass in her...
  • Crazy Like A Fox

    04/01/2006 6:26:48 AM PST · by john drake · 14 replies · 481+ views
    national review online ^ | March 30, 2006 | David Frum
    MAR. 30, 2006: CRAZY LIKE A FOX Follow the money: In 2005, Mexicans in the United States remitted some $20 billion home. That's 3% of Mexico's entire national income. Remittances have surpassed tourism, oil, and the maquiladora assembly industry to emerge as the country's top single source of foreign exchange. For the 6% of Mexican households that receive remittances, these funds can mean the difference between extreme poverty and an income roughly in line with the Mexican average. And as Mexico's economy has malperformed since 2000, remittances have become more essential than ever - not only economically, but politically. This...

    03/31/2006 7:30:49 PM PST · by ChessExpert · 20 replies · 808+ views
    National Review Online ^ | 30 March 2006 | David Frum
    Follow the money: In 2005, Mexicans in the United States remitted some $20 billion home. That's 3% of Mexico's entire national income. Remittances have surpassed tourism, oil, and the maquiladora assembly industry to emerge as the country's top single source of foreign exchange. ...
  • Bank of Mexico Reports Remittances Sent Home by Mexicans Living Abroad Rise to $20B in 2005

    02/01/2006 7:26:41 AM PST · by Tyche · 125 replies · 2,108+ views
    AP ^ | Jan 31, 2006 | AP
    MEXICO CITY (AP) - Remittances sent home by Mexicans living abroad rose to US$20 billion (euro16.5 billion) in 2005, a 17 percent increase over the year before, the Bank of Mexico reported Tuesday. Remittances climbed by more than US$5.3 billion (euro4.4 billion) in the fourth quarter of 2005 alone, the bank said. They totaled US$16.6 billion (euro13.7 billion) in 2004. Remittances have been climbing steadily for years, surpassing the amount the country receives from tourism, which totaled US$10.7 billion (euro8.8 billion) in 2005.
  • [Mexico: Paisano] Shakedown artists are facing holiday shake-up

    12/18/2005 7:32:18 AM PST · by SwinneySwitch · 26 replies · 623+ views
    Express-News Mexico City Bureau ^ | 12/18/2005 | Dane Schiller
    MEXICO CITY — As more than 1 million immigrants living in the United States head south of the border for the holiday season, President Vicente Fox is warning that shakedowns by police or border guards won't be tolerated. Making what has become an annual pledge to protect immigrants, whom he refers to as "heroes," Fox is taking to the airwaves to remind the returning immigrants, known as paisanos, to report corrupt police, border guards and other officials. "My countrymen, I will personally make sure you get the treatment you deserve," Fox says in a series of public service announcements. "Welcome...

    12/05/2005 3:01:10 PM PST · by hadit2here · 5 replies · 850+ views ^ | December 5, 2005 | U.S. Postal Service
    Washington, DC - The holidays are a time for families to share and celebrate together, regardless of the miles that may separate them. This also is the time of year when families send money back home to countries outside the United States. The U.S. Postal Service offers Dinero Seguro (Sure Money), providing customers with an affordable, convenient and safe method of transferring money internationally. Customers can send up to $2,000 per transaction per day, available in 2,800 participating Post Offices across the country. Identification is required for transfers exceeding $1,000. The system uses secure, electronic wire transfers between the Postal...
  • Panel: Int'l. migrants send $240B home

    10/05/2005 7:32:10 PM PDT · by NormsRevenge · 10 replies · 399+ views
    ap on Bakersfield Californian ^ | 10/5/05 | Edith M. Lederer - ap
    UNITED NATIONS (AP) - International migrants send about $240 billion to their home countries yearly, a significant engine of growth for the world economy, the Global Commission on International Migration said Wednesday. But the 19-member independent panel said in a report that world governments have failed to take advantage of the enormous opportunities that result from such migration or to manage the challenges posed by the foreigners' arrival. The clearest finding from the commission's nearly two-year study is "the great importance in (economic) growth terms, and development terms, that is created out of migration," said Jan Karlsson, Sweden's former minister...
  • Bank of America Announces Free Nationwide Remittance to Mexico

    09/28/2005 2:26:16 PM PDT · by DumpsterDiver · 24 replies · 1,295+ views
    PRNewswire ^ | September 28, 2005 | Bank of America
    Bank Benefits Millions of Hispanics by Eliminating Transfer Fees LOS ANGELES, Sept. 28 /PRNewswire/ -- Bank of America today announced its free nationwide remittance service that is making it easier for millions of Hispanics to send money to Mexico by eliminating transfer fees. Called SafeSend(R), the new feature is available to anyone who has a Bank of America personal checking account. Earlier this year, Bank of America became the first major financial institution in the United States to offer free remittances when it introduced the product in Chicago. "We are proud to help millions of Hispanics send money for free...
  • Money sent to Mexico - Barf alert

    07/09/2005 5:33:03 AM PDT · by ConsentofGoverned · 15 replies · 597+ views
    AP ^ | 07/08/2005 | E. Eduardo Castillo
    MEXICO CITY (AP) -- Despite increasing migration, money sent home to Mexico is almost all spent on bare necessities for migrants' families, with little left over for investment that could create new jobs, according to a government report released Friday. ADVERTISEMENT Levels of migration and remittances sent home by workers abroad have both risen in recent years, and that growth rate is accelerating, said Elena Zuniga, the head of Mexico's National Population Council The number of undocumented migrants leaving for the United States grew by 48 percent in the period 1993-1997, 63 percent from 1998 to 2001, and rose by...
  • 45 Billion Dollars in Remittances to Latin America in 2004

    05/21/2005 12:15:04 PM PDT · by FreedomSurge · 54 replies · 1,190+ views
    Univision punto Com ^ | 5/20/05 | EFE
    Large Providers of FundsImmigrants and the Shipments of Money International flows of money no longer are simply the province of large international investors but also of modest immigrants, who cent by cent send resources to their families. Waiters, tradesmen and cleaning personnel who have emigrated to developed countries star in this new movement that has possibly sent 45 billion dollars to Latin America and the Caribbean in 2004.Remittances, a good businessThe remittances extensively are recognized as indispensable for the survival of millions of families and the welfare of many national economies in Latin America and The Caribbean", indicated the Multilateral...
  • America: Mexico's ATM

    05/08/2005 4:46:51 PM PDT · by Carbonsteel · 36 replies · 968+ views ^ | Monday, May 9, 2005 | N/A
    Immigration: That "giant sucking sound" you hear isn't the jobs that Ross Perot warned we'd lose to Mexico due to NAFTA. It's from all the cash Mexico is collecting from illegals working on this side of the border. Funds sent home from Mexican immigrants, both legal and illegal, now outstrip revenues from foreign investors and tourism in Mexico (see chart). And "migradollars" are on course to surpass even revenues from Pemex, the state oil company, making them the country's largest source of income.
  • Remittances to Latin America, Caribbean Surge in 2004

    03/28/2005 8:32:34 PM PST · by hedgetrimmer · 18 replies · 615+ views
    Migrants living in the US, Europe and elsewhere around the world sent a record amount of remittances - some $45 billion - to Latin America and the Caribbean last year, according to the Inter-American Development Bank (IDB). The remittances - or money transfers - sent by Latin American and Caribbean workers living abroad rose nearly 20% over 2003, when $38 billion was sent home, the IDB said. About three-quarters of the remittances came from the US, while Europe was the second-largest source. Japan continued to be a major source of remittances to Brazil and Peru with foreign workers in Canada...
  • Latin American and Caribbean emigrants sent to their countries $45.8 billion in 2004

    03/23/2005 4:26:19 PM PST · by El Conservador · 22 replies · 491+ views
    El Tiempo (Bogotá, Colombia) ^ | March 23, 2005 | AFP
    It's a 20% increment with respect to 2003. The region is the first destination for these transfers, according to the Inter-American Development Bank (IADB). According with the IADB, the 25 million Latin American and Caribbean emigrants, setled mainly in Europe and the United States, have made this region the first destination for money transfers in a global market that moves some $120 billions dollars a year. These 45 billion dollars surpass the sum of all direct foreign investment and foreign aid received by the region. Mexico was the main transfer receiver in the region, with more than 16 billion de...
  • Immigrant Money Transfers Expected To Reach $150 Billion This Year

    12/26/2004 4:24:56 PM PST · by Excuse_My_Bellicosity · 39 replies · 894+ views
    Salt Lake Tribune ^ | 12/26/2004 | Rhina Guidos
    SAN DIONISIO, Mexico - In this rural village, there is no industry, no paved roads, not even signs to tell visitors where it begins and ends. There are big houses, though, that wouldn't look out of place in West Valley City. Electricity, too, and indoor plumbing. And cell phones, even in the humblest of adobe-and-brick homes. But for Isidora Zaragosa, 62, all that progress cannot fill the void left by the young, sun-kissed men and women, including her children, who abandoned San Dionisio long ago. Like thousands of other Mexicans, most of them immigrated to the United States - particularly...
  • Mexico to match immigrant donations

    12/18/2004 10:02:57 AM PST · by yonif · 15 replies · 722+ views
    VenturaCountyStar ^ | December 18, 2004 | Raul Hernandez
    Mexican immigrants working in the United States are sending money south of the border to help fix roads or sidewalks, buy ambulances, set up scholarships, construct senior centers, restore downtown plazas or pay for various other community projects. For every charitable dollar sent to Mexico by immigrants who are members of civic groups and clubs in the United States, the Mexican government is matching the donation with three dollars. This is all done through Mexico's Three for One Initiative Program, which is under the Secretaria de Desarrollo Social, a Mexican federal agency. Friday, Martha Esquivel, a representative with the Secretaria...
  • Mexican remittances head for new record

    08/27/2004 7:55:47 PM PDT · by television is just wrong · 43 replies · 619+ views
    Financial ^ | August 26, 2004 | By John Authers
    Mexican remittances head for new record By John Authers Published: August 26 2004 03:00 | Last updated: August 26 2004 03:00 Remittances from Mexican migrant labourers are on course to set another record this year, according to the Bank of Mexico. Total second-quarter remittances reached $4.5bn (€3.7bn, £2.5bn) - an increase of 29.1 per cent over the second quarter 2003, according to a report by the bank. The numbers are likely to intensify competition among US banks for a share of the remittance market, which is seen as the best way to improve their marketing to Hispanics. Total remittances for...
  • Mexico Moves to Tax Billions in Remittances as Migrants Protest

    02/19/2004 8:38:35 PM PST · by txdoda · 54 replies · 264+ views
    NCM Online ^ | 2-19-2004 | Daniel Rodriguez
    According to the amendment made to paragraph 'a' in the first clause of Article 9 of the Código Fiscal de la Federación in México, the money transfers that Mexicans send to their country would be subject to federal taxation For example, this means that out of the $13.3 billion dollars that were sent last year to México, 35 percent ($4.6 billion) -- more or less the tax owed -- would have to be paid to the government.
  • Remittances are Mexico's biggest source of income, says Fox

    10/06/2003 4:07:30 PM PDT · by AZ GRAMMY · 27 replies · 396+ views
    ASSOCIATED PRESS ^ | Luis Alonso Lugo
    Remittances are Mexico's biggest source of income, says Fox By Luis Alonso Lugo ASSOCIATED PRESS 8:51 p.m. September 24, 2003 NEW YORK ? Money sent from Mexican workers in the United States to their families back home has reached a record $12 billion in 2003, Mexican President Vicente Fox said Wednesday. Remittances "are our biggest source of foreign income, bigger than oil, tourism or foreign investment," Fox told reporters after a meeting with Mexican-American businessmen. "The 20 million Mexicans in the United States generate a gross product that is slightly higher than the $600 billion generated by Mexicans in Mexico,"...
  • Money from U.S. sustains Mexico - Relatives' payments help support 25% of citizens, poll finds

    10/28/2003 5:48:16 PM PST · by yonif · 6 replies · 179+ views
    International Herald Tribune ^ | Wednesday, October 29, 2003 | Ginger Thompson
    MEXICO CITY Nearly one Mexican in five regularly gets money from relatives employed in the United States, making Mexico the largest repository of such remittances in the world, according to a poll sponsored by the Inter-American Development Bank. The pollster, Sergio Bendixen, estimated that the payments help feed, house and educate at least a quarter of Mexico's 100 million people. The poll was part of a report on Monday by the bank, which said money sent home by all Mexican immigrants would soar to $14.5 billion this year, exceeding tourism and direct foreign investment to become this country's second most...
  • Mexico's private sector foresees $10 billion in remittances

    12/07/2002 3:06:38 PM PST · by B4Ranch · 10 replies · 199+ views ^ | December 7, 2002 | NA
    Mexico City, Mexico, December 7, 2002 The amount of money sent by Mexicans living in the United States to relatives back home may reach $10 billion in 2002, the Center for Private Sector Economic Studies (CEESP) said Saturday. Remittances from emigrants represent Mexico's fourth-largest source of foreign exchange, after assembly industry exports, oil and direct foreign investment. The CEESP study released Saturday said that last year's remittances from Mexicans living in the United States reached a record $8.89 billion. The amount of money sent has increased significantly in recent decades, the study said, noting that the figure for 2001 was...