You know there's a serious Economic Crisis when...

POLITICS. .

You know there's a serious economic crisis when remittances which historically have been sent from the United States to Mexico suddenly shift gears and begin running in reverse from South to North.

ist2 558482 mexican pesos DO6AJ 18311
ist2 558482 mexican pesos DO6AJ 18311

Mexico is expected to lose more than 700,000 jobs this year due to a slumping economy that may decline as much as 7.5%. Almost half of the country’s population lives in poverty, and yet, it is managing to reverse a trend of money that has traditionally flowed from north (the United States) to south.

Although there has yet to be enough data to form clear statistics, numerous banks within various Mexican states are starting to notice an emerging financial trend which has never been seen before: More money is being sent to the U.S. and less coming from it.

It’s something that’s surprising, a symptom of the economic crisis. We haven’t been able to measure it but we hear of more cases where money is going north.”- Martín Zuvire Lucas, Administartor of community banks in Oaxaca and other underserved Mexican states.

Although the amount of money being sent to Mexican immigrants within the U.S. will never become anywhere near the amount received, these movements only shed further light on an already devastating reality.

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