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January 29, 2010
 
 

Remittances to Mexico Fall 16 Percent


"Money sent home by Mexicans abroad plunged a record 15.7 percent in 2009 as migrants worldwide struggled to find work during the global economic slowdown, the central bank reported Wednesday," according to Bloomberg News. "Remittances -- Mexico's No. 2 source of foreign income after oil exports -- totaled $21.2 billion in 2009, compared with $25.1 billion in 2008, the bank said."