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Caribbean-Latin America
Mexico's remittances (money sent home) reach almost $27 billion
2017-02-02
[Wash Times] MEXICO CITY (AP) -- The money sent home to Mexico by migrants living abroad rose to almost $27 billion in 2016, the highest on record.

Remittances rose 8.8 percent, from $24.78 billion in 2015 to $26.97 billion in 2016.

Mexico’s central bank said Wednesday almost all the money was sent to Mexico by electronic transfers. About $600 million continues to arrive in cash or by money orders.

Remittances have become Mexico’s most important source of foreign income after manufacturing exports of almost $34 billion per year.

Remittances have far surpassed the $15.6 billion Mexico earns from oil exports and the $17.5 billion in tourism income Mexico received in 2015.
Posted by:Besoeker

#4  What would Pancho Villa do?
Posted by: charger   2017-02-02 20:22  

#3  Heh. I'll bet a 50% tax on remittances would force many to take the money across themselves. Then just don't let them back in.
Posted by: gorb   2017-02-02 16:06  

#2  We could keep the 20% tax until the wall is paid for.
Posted by: Besoeker   2017-02-02 12:58  

#1  Hmm. A 20% tax on remittances would generate about $5 billion or so. How much is the wall supposed to cost?
Posted by: Rambler in Virginia    2017-02-02 12:42  

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