Remittances offset the severity of Mexico’s slowdown in the year of the pandemic

Remittances offset the severity of Mexico’s slowdown in the year of the pandemic

flow Transfers To Mexico in general pandemic, Which undoubtedly contributed to balancing the severity Economic slowdown Due to social distancing, analysts have warned of Oxford Economics.

Experts have warned that it is very likely that a strong economic recovery of exporting countries, such as the United States, will help them play an important softening role for the recipients.

Within the analysis jointly developed by the consultancy Oxford Economics s Western UnionThey highlighted that Mexico was one of the few countries, along with Colombia and Central America, where remittance flows have increased despite restrictions resulting from the closure of the economies in which remittance senders work, due to the spread of the epidemic.

In a report titled “The Effects of Remittances. A Lifeline of Economies.” pandemic And recovery, “they highlight, according to World Bank, International remittances will suffer a 7.5% decline this year.

Consultants believe that the contraction in remittance flows will represent an unusually significant divergence in economic trends. That is, they do not match.

It must be remembered that by 2020, it will be World Bank He estimated the contraction of remittances by 15%, which was measured over the course of the year.

As opposed to perspective World Bank, at Oxford Economics They expect that the strong recovery of the 20 major remittance-exporting economies will be favorable to the so-called “migratory dollars”.

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