Cash Transfers to Mexico Jump to Near-Record Level Rafael Bernal - The Hill
go to original May 6, 2017

Potential remittance tax would hurt Mexican economy, livelihoods (Cronkite News)

Remittances to Mexico jumped 15 percent in March compared to the same period last year, making the month one of the biggest ever recorded for transfers sent by individuals to friends and family abroad.
 
Mexicans received $2.5 billion in the cash transfers, known as remittances, in March compared to $2.2 billion a year earlier, according to Mexico's central bank, Banxico.
 
The March take is the third largest in U.S.-Mexico remittance history, after October 2008 ($2.6 billion) and May 2006 ($2.5 billion).
 
Monthly remittances usually dip to their lowest in January, after the holiday season, and start climbing in February. This year, the pattern changed, with January and February both netting $2 billion in remittances.
 
The cash transfers have gained political significance after President Trump proposed taxing or impounding remittances as a potential method to make Mexico pay for a wall along the United States' southern border.
 
...Banxico figures show that the number of operations and the size of each transaction also rose in March.

Read the rest at The Hill

Related: For Mothers Back Home, Remittance Benefits Come at a Cost (Cronkite News)

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