Mexican government knew remittances would slow

Mexican government looking beyond remittances
— Houston Chronicle2

As the United States economic crisis worsens, the money that Mexicans living here send home to their families has declined — reaching record lows over the summer.

But the Mexican government has long known that the day would come when the historic migration North would slow, and the remittance revenue stream — Mexico’s second largest source of foreign income behind oil exports — would eventually dry up.

Mexico prepared for the scenario with initiatives to solidify ties to its citizens abroad, especially with the U.S.-born children of Mexican immigrants whose allegiance to their homeland weakens with each new generation.

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Footnotes
2 = article may expire in a few weeks.

Author: Paloma Cruz

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