Thread: Ever wonder why our banks transfer $$ to Mexico?

Mexico
Overview
Mexico is the world’s tenth largest economy, and is a pivotal contributor to prosperity and stability in the Western Hemisphere.

Mexico’s adoption of the North American Free Trade Agreement (NAFTA) in 1994 links together 426 million people and produces more than $12 trillion worth of goods and services, setting a standard for much of Latin America and the Caribbean to emulate.

However, not all of Mexico reaps the benefits that trade, international visibility and close partnerships with the U.S. may offer. As a result of massive migration from urban areas to the nation’s capital, Mexico City is now among the Western Hemisphere’s most populous cities, with population estimates as high as 18 million. Poverty levels remain high, particularly in rural areas. In addition, economic growth and environmental degradation present significant challenges to the country’s rich biodiversity.
http://www.usaid.gov/locations/latin_am ... ry/mexico/



The new USAID program in Mexico contributes significantly to the bilateral Bush-Fox Partnership for Prosperity to stimulate private investment. USAID's scholarship and exchange program will enhance the capacity of higher education institutions in the United States and Mexico to examine development problems, and will provide greater opportunities for Mexicans in poor, rural, and indigenous areas.

USAID will also address natural resource conservation in key watersheds and biodiversity sites and generate new sources of income for rural farmers and inhabitants. USAID's microfinance program will work with credit unions, private banks, and associations to facilitate lower-cost remittance transfers from the United States to Mexico and encourage savings and investment by Mexicans in both countries.
http://www.usaid.gov/policy/budget/cbj2006/lac/mx.html

YIKES! Thanks for that info that makes me feel even more ill at ease!