Bank of Mexico sees dip in migrants’ money
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 AsociaciÃ³n 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.