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Beyond Borders

A blog about immigration in the New York region

Bank of Mexico sees dip in migrants’ money

October
1

How will the U.S. economic crisis affect immigration? We’re starting to see some indicators. The Bank of Mexico has been tracking remittances by migrants for more than a decade, and last month it saw the largest drop ever, reports AP.

Mexicans abroad (mostly in the United States) sent back $2.2 billion in August 2007. Last month that figure was down 12 percent, to $1.9 billion.

Economic turmoil in the United States, increased deportations are among the factors.

In New York, the advocacy group Asociación Tepeyac is calling for support programs in Mexico that would help returning migrants re-establish themselves. “Given the difficult economic conditions in which many immigrants are living in the US, during this time of economic recession, thousands of Mexican immigrants will be returning to their home towns,” the organization said in a release today.

This entry was posted on Wednesday, October 1st, 2008 at 12:12 pm by Leah Rae. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Asociacion Tepeyac, Bank of Mexico, economy, Mexico, New York, remittances

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Reporters from The Journal News track the latest developments in immigration. Beyond Borders explores the news, the cultures and controversies.
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