August 09, 2007
Fewer Mexicans Sending Dollars Back Home
Today's "cry me a river" story:
This year a smaller percentage of Mexican immigrants in the United States sent money back to their homeland than in 2006, according to a report released yesterday by the Inter-American Development Bank. The bank said the reduction had left at least two million people in Mexico without the same financial help they had once received.
Bank officials, pointing to a survey of Mexican immigrants in the report, said the decline reflected a rising sense of insecurity and uncertainty about whether they would stay in the United States. Anticipating a possible move back to Mexico, these immigrants appear to be saving more.
“They have decided because of the uncertainty of the future that they need to step back and save a bit,” said Donald F. Terry, general manager of the Multilateral Investment Fund at the bank.
Mr. Terry said the slowdown would affect about 500,000 Mexican homes. “For those families in Mexico, there is going to be economic and social dislocation,” he said.
Well, perhaps it would behoove members of the Mexican government to get off their sorry rear ends and do something about their economy. This is a country that is rich in natural resources, but also rich in corruption from the top down. I know their new president, Felipe Calderon, has his heart in the right place, but he has a tremendous job ahead of him.
It's pathetic that Mexicans have to rely on family members who sneak over our border in order to provide for loved ones back home. What's even more pathetic is we're expected to continue to be their benefactors. Maybe this decrease in the flow of funds will spur some people to more positive action.
Isn't wishful thinking grand?
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They aren't sending money home because they don't need to ... their families are already here in the US as well!
Posted by: Judy Aron at August 9, 2007 09:56 AM
