Thanks for the $4 billion....

by zulualpha, Tuesday, May 05, 2020, 10:37 (255 days ago)
edited by zulualpha, Tuesday, May 05, 2020, 12:24

President López Obredor Tuesday thanked Mexicans working abroad for the "solidarity" shown in March, with the sending of $4 billion (US) to familiy members south of the Rio Grande. It was the largest cash amount ever recorded.

Remittances, numbering 10.6 million individual transactions, averaged about $380 each ($9,000-$10,000 pesos.)

The Mexican economy, more than half of which is "informal," is expected to shrink about 8% this year, economists say. The "formal" economy may offer scattered unemployment benefits; the informal sector, none. (Excelsior) (Forbes) et al

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