Economy & Business - October 2006

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.