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Falling Worker Remittances: A realignment of money flows - June 2008 |
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 Worker remittances to Mexico from the United States are down 2.9%, totaling $5.4 billion, during the first quarter of 2008 as compared to the same period in 2007. Mexico frequently serves as a barometer for the region because it accounts for nearly half of the region’s remittances. First quarter figures are not surprising in light of a softening of growth during 2007, but the ever increasing severity of deceleration in the US economy could actually make 2008 the first year on-record where remittances post negative growth.
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