Tags: LT | Mexico | Remittances

Mexico Sees Record 15.7 Pct Drop in Remittances

Wednesday, 27 Jan 2010 03:26 PM

 


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.)


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