In February, remittances sent by Mexican workers to their homes in the country decreased, with an entry of 4,459 million dollars, according to information from the Bank of Mexico (Banxico).
The income, also known as ‘migradollars’, was lower than the 4,660 million dollars received in January; it shows a decrease of 0.8% compared to the income captured in the same month of the previous year.
It remains as the lowest monthly remittance record since January 2024 and adds two months below the 5,000 million dollars that entered monthly from September to December of last year.
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Economist for Latin America at Goldman Sachs, Alberto Ramos, considers that this moderation in the flow of remittances directed to Mexico can be explained by the tightening of anti-immigrant policies being applied in the United States.
The Center for Monetary Studies of Latin America (CEMLA) had already presented a note where it observed that in the first two months of the current year, the number of jobs held by Mexican workers in the United States decreased.
CEMLA is a specialized center aimed at improving information on remittances as a key tool for the knowledge of regional central banks.
They explained that there is no evidence to conclude if this reduction in employment was due to the fear of Mexican immigrants being deported or if there was a lower demand for Mexican labor in the United States.
