LatinNews Daily - 01 June 2022

In brief: New report sheds light on remittances in Mexico

*The Latin American centre for monetary studies (Cemla), an organisation grouping the main central banks of Latin America and the Caribbean, has released new figures which show that 4.9m homes and 11.1m adults in Mexico receive remittances from family members living abroad, with the monthly average received per person at US$337. The report was based on data from the 2021 national survey of financial inclusion (Enif), which was carried out jointly by the bank superintendency (CNBV) and the national statistics institute (Inegi). According to the report, between July 2020 and August 2021, 6.5m (59%) of remittance recipients were women and 4.6m (41%) were men. The report also detailed the geographic distribution of remittances, with the states of Aguascalientes, Guanajuato, Jalisco, Michoacán, Nayarit, Querétaro, Colima and Zacatecas accounting for 37% of the total remittances received in the country. The flow of remittances to Mexico continues to grow, with the Mexico’s central bank (Banxico) reporting a 12.6% annual increase as of March 2022.

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