Wednesday, April 2, 2025

March remittances up 10% to record-breaking US $4.15 billion

Mexican workers living abroad sent home a record US $4.15 billion in March, a 10.4% increase on March last year.

In the first quarter, remittances sent to Mexico totaled $10.62 billion, another record, with a 13% increase on 2020.

The average remittance payment was $370, compared to $320 last year, and 1.8 million families benefited, according to data provided by the Bank of México (Banxico).

The International Monetary Fund’s (IMF) Alejandro Werner explained that the solid flow of remittances is due to the U.S. fiscal stimulus, the incentives for migrants to support their families back home, and payments switching to formal channels due to border closures.

Werner added that it is likely that the trend will continue, but could slow moderately as the pandemic further recedes in Mexico.

Goldman Sachs’ Alberto Ramos explained that the flow of remittances remains strong, referencing the impact of “the generous fiscal transfers that the United States government is granting to families; as well as the competitive exchange rate differential, and the deep contraction of employment and economic activity in Mexico.”

Source: El Economista (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
Los Alegres de Barranco band poses with instruments and cowboy hats

US revokes visas of Mexican band who paid homage to cartel boss ‘El Mencho’

5
The band Los Alegres del Barranco is at the center of a heated controversy after paying tribute to notorious drug lord Nemesio "El Mencho" Oseguera Cervantes during a recent concert.
Kristi Noem and President Trump

Homeland Security Secretary outlines Trump’s ‘wishlist’ for Mexico to sidestep tariffs

19
The list of requests was presented to President Sheinbaum by Homeland Security Secretary Kristi Noem, who suggested Mexico may still be able to avoid tariffs before Wednesday.
A stack of tortillas with a hand at the top, pulling a couple of tortillas off the stack.

UNAM designs a ‘supertortilla’ to fight malnutrition in Mexico

7
According to federal data, over 18% of Mexicans lack access to quality nutritional food, while obesity and diabetes are prevalent in Mexico.