Mexico's remittances pass $50 billion, surge during pandemic

Mexico's remittances - the money migrants send home to their relatives - have soared in the past two years, and are now expected to top $50 billion for the first time once 2021's figures are added up.

But as happy as the Mexican government is about the news - and the president is ecstatic - the boom raises questions: Is it sustainable, or just blip fuelled in part by U.S. government pandemic support payments?

Any decline would be a blow.

In some places in rural Mexico, remittances are often the lifeblood of many towns, with every store, business and family depending on the money.

SOURCE: Associated Press

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