Thread: Remittances from Mexicans abroad up 17 percent in April from

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Remittances from Mexicans abroad up 17 percent in April from last year


ASSOCIATED PRESS

11:50 a.m. June 1, 2006

MEXICO CITY – Mexicans living abroad sent US$1.8 billion (euro1.4 billion) back home in April, up 17 percent from the same month a year earlier.
Remittances into Mexico totaled US$7 billion (euro5.5 billion) during the first four months of the year, up 25 percent from the comparable 2005 period, the Bank of Mexico said.

Remittances have become an increasingly important source of income for the country in recent years, surpassing revenue generated by tourism. They also represent Mexico's second-largest source of foreign income after oil.

They topped US$20 billion (euro15.7 billion) for the first time ever in 2005, a 17 percent increase from the previous year.

Well of course the money flowing back to Mexico is going to increase as the number of illegals in the United States increases. Simple math.

That just proves how well Bush's amnesty plan is working. Instead of a flood of illegals we have a tidal wave.