Mexico sees record 15.7 percent annual drop in money sent home by migrants
By APWednesday, January 27, 2010
Mexico sees record 15.7 pct drop in remittances
MEXICO CITY — Mexico’s central bank is reporting a record 15.7 percent drop in remittances by migrants last year.
The bank says Mexicans abroad sent home about $21.2 billion in 2009, compared with $25.1 billion in 2008.
The bank said Wednesday it was the second year in a row that remittances fell, and only the second annual decline since the bank started tracking them in 1996.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
MEXICO CITY (AP) — Mexico’s central bank is reporting a record 15.7 percent drop in remittances by migrants last year.
The bank says Mexicans abroad sent home about $21.2 billion in 2009, compared with $25.1 billion in 2008.
The bank said Tuesday it was the second year in a row that remittances fell, and only the second annual decline since the bank started tracking them in 1996.
(This version CORRECTS that the bank issued its report Wednesday, not Tuesday.)
