X

US Downturn Cuts Migrants' Payments Home

Mexican families struggle without funds relatives send home
By Matt Cantor,  Newser Staff
Posted Apr 18, 2008 10:30 AM CDT
US Downturn Cuts Migrants' Payments Home
Mexican migrant aid Grupo Beta officer Enrique Enriquez talk to migrants before they cross to the United States, in outskirts Nogales, Mexico, Thursday, May 24, 2007.    (AP Photo/Guillermo Arias)

(Newser) – The downturn in the US economy is also hitting Mexico hard, the Washington Post reports. Money sent home from the US, known as remittances, dropped nearly 7% in January compared with the year before, the biggest plunge in 13 years, says the Mexican government. Without that money, the country's No. 2 source of foreign currency, many Mexicans can’t pay for basic needs.

story continues below

"Neither the government nor the families who are affected have a good alternative to remittances," says an economics professor. For many, remittances covered a range of costs, including housing, medical, and childcare expenses. And with the relatives supporting them losing their American jobs and even homes, the prospects for the mostly elderly residents left behind in Mexico are grim. (Read more Mexico stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X