LatinNews Daily - 02 September 2022

In brief: Remittances to Mexico continue to rise

* Mexico’s central bank (Banxico) has released new figures which show remittances to Mexico totalled US$5.29bn in July 2022, a 16.5% year-on-year increase. With this figure, the total remittances received in the first seven months of the year equal US$32.81bn – a 16.4% increase on the US$28.19bn received in the same period of 2021. Remittances to Mexico are currently on track to reach another record high this year and exceed the US$51.59bn sent to the country in 2021. In his yearly state-of-the-nation address, presented yesterday (1 September), López Obrador said that an increase in remittances, along with social welfare programmes and the recovery of salary purchasing power, had helped improve “the economic situation of the poorest population of the country”.

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