Report Shows Steady Increase in Wire Transfers from US to Mexico Since January Rafael Bernal - The Hill
go to original March 2, 2017

Mexican Breadwinners Fear Paying For Trump’s Border Wall (KPBS News)

People in the United States are sending more money to their friends and relatives in Mexico.

Remittances to Mexico sent by people in the United States to friends or family in Mexico were up 6.3 percent in January compared to the same period last year, reported the country's central bank, Banxico.

Remitters sent more money per transfer and made more transfers than a year ago. In January, Banxico recorded 6.962 million operations, compared to 6.465 million in 2016. President Trump has suggested taxing or impounding remittances as a way to make Mexico pay for his proposed border wall.

Remittances are an important source of foreign revenue for the country; Banxico reported $26.9 billion was sent in 2016.

In 2015, remittances became the main source of foreign currency in the country, surpassing oil revenue, foreign investment, tourism and manufacturing exports.

The money tends to flow to the country's poorest regions, where people have more relatives who have migrated to the United States.

Read the rest at The Hill

Related: Undocumented Immigrants in the U.S. Contribute Billions in Local and State Taxes (Bay Area News Group)

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!