U.S.-Mexico Remittances Fuel Mutual Economic Growth, Studies Reveal
Mexico’s $68B remittance inflow from the U.S. drives bilateral economic gains, offering insights for markets and policymakers alike.
Remittances
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Western Union Halts US-Cuba Money Transfers Amid Sanctions Reinforcement
Western Union has suspended its US-Cuba money transfer services following reinstated sanctions, affecting many families dependent on remittances.
Remittances to Mexico Surge Amid COVID-19 Economic Strain
Despite the economic strain of the COVID-19 pandemic, Mexico saw a surprising surge in remittances, as migrants increased financial support to their families back home.
Pandemic Causes 14% Drop in Remittances, Impacting Venezuela
The World Bank reports that global remittances are expected to drop by 14% due to the COVID-19 pandemic, severely affecting countries like Venezuela where remittances are a crucial source of income.