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Economy & Business - October 2006
REMITTANCE REPORT: Mexico tries to explain surge in remittances
The economy minister, Sergio García de Alba, suggested that one reason why remittances to Mexico are continuing to rise is that migrants have become businessmen and can afford to send more money home. García de Alba said that this was a more important explanation for the growth in the flow of remittances than the fact that the number of Mexicans migrating to the US increases by about 400,000 a year. There are currently about 12m Mexicans living and working in the US.
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