Mexicans feel the pinch from slowdown north of the border
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Luis Martínez went from being a successful Dallas businessman to a struggling alfalfa farmer in rural central Mexico because of a North Texas crackdown on illegal immigrants, reports the Dallas Morning News this morning.
Now, that crackdown is squeezing towns across Mexico as immigrant unemployment grows in the U.S. and money sent home declines at a record rate.
‘A growing number of deportations, along with rising unemployment, are forcing Mexicans to further tighten their belts as remittances sent home dropped by nearly 7 percent in July compared with a year earlier. That’s the biggest one-month fall on record as measured by Mexico’s central bank.’
Read here on a report about Mexico’s financial woes at the end of July.
To read more about Luis Martínez and the problems facing Mexicans at home and north of the border in the Dallas Morning News, click here.
Click here for more on immigration and here for more on Mexico.
-- Deborah Bonello