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Money Mexican migrants sent home rose by 11.4% in Q1

KEYT

MEXICO CITY (AP) — Mexicans living abroad sent home a total of almost $14 billion in the first three months of 2023, an 11.4% increase over the same period of 2022. While still considerable, the rate of growth in remittances appears to be slowing, after large pandemic-era increases in 2022 and 2021.  In March, remittances for the month were actually down 1.2% compared to the same month last year. That may be related to the Feb. 28 decision by the government to stop accepting remittances through the government-owned Bienestar bank. The government said the decision was made to avoid duplicating the functions of another government transfer office.

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The Associated Press

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