Economics: Remittance Recovery Continues

MEXICO - Report 20 May 2015 by Mauricio González and Ernesto Cervera
Executive Summary In 2014 Mexico set a new post 2008-2009 record for the volume of remittances it received. In dollars, such inflows grew by 8% compared to the previous year, to total US$23.65 billion. This growth trend extended through the first quarter of 2015, with remittances rising by another 4.9% compared to the same three-month period of 2014. One factor that has contributed to the considerable expansion of remittance flows into Mexico is the extent to which the peso has softened against the dollar beginning in the fourth quarter of 2014, a devaluation that at times has sent the Mexi...

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