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Money Migrants Sent Back to Mexico Reached Record at $51.6 Billion
There was more crossing the border between the United States and Mexico than hundreds of thousands of migrants last year. The Los Angeles Times reports that Mexico’s central bank says ‘remittances’ – the money migrants send back home to their relatives in Mexico, grew in 2021 by 27.1%, about $51.6 billion. The Los Angeles Times reports that the record was set, despite the COVID-19 pandemic.
The remittances surpasses almost all other sources of Mexico’s foreign income, including tourism, oil exports and most manufacturing exports. The bank said the month of December 2021 remittances grew to $4.76 billion, which is an aggressive 30.4% more than in the same month of 2020.
Mexico is now the third-largest receiver of remittances globally, behind India and China. According to a government report, Mexico now accounts for roughly 6.1% of world remittances.
“Remittances as a percentage of Mexico’s gross domestic product have almost doubled over the past decade, growing from 2% of GDP in 2010 to 3.8% in 2020, according to the government. Between 2010 and 2020, the percentage of households in Mexico receiving remittances grew from 3.6% to 5.1%” reports the Los Angeles Times.
“On one hand, the spike may be simply a matter of need, caused in part by the pandemic. Mexico’s GDP shrank 8.5% in 2020, and, while the economy rebounded to post 5% growth in 2021, the last two quarters of the year showed a slight contraction, leading the country into a technical recession.”
Therefore migrants may have been more likely and able to send more money to their families at home.
In a significant development, Hunter Biden, the son of President Joe Biden, was indicted on Thursday on federal gun charges as part of Special Counsel David Weiss’ ongoing investigation. The indictment alleges that Hunter Biden made false statements during the purchase of a firearm, among other charges.
The charges against Hunter Biden include:
• Making a false statement in the purchase of a firearm
• Making a false statement related to information required to be kept by a federal firearms licensed dealer
•Possession of a firearm by a person who is an unlawful user of or addicted to a controlled substance
According to the indictment, the alleged incident occurred on or about October 12, 2018, in the District of Delaware. Hunter Biden is accused of knowingly making a false and fictitious written statement during the acquisition of a Colt Cobra 38SPL Revolver. According to reports from Fox News, the statement, submitted on Form 4473, falsely certified that he was not an unlawful user of, and addicted to, any stimulant, narcotic drug, or controlled substance.
Furthermore, the indictment further states that between October 12, 2018, and October 23, 2018, in the District of Delaware, Hunter Biden knowingly possessed the same firearm despite being an unlawful user of and addicted to controlled substances. This marks the first set of charges brought by Special Counsel David Weiss against Hunter Biden since being granted special counsel status.
The investigation came to public attention when it was reported by Fox News in 2021 that police had responded to an incident in 2018 involving a gun owned by Hunter Biden.
Reports state that, Hallie Biden, the widow of President Biden’s late son, Beau, who was in a relationship with Hunter at the time, discarded the gun. Hunter’s gun was thrown away in a dumpster near a market, located close to a school. It was subsequently revealed that Hunter Biden had purchased a gun earlier that same month.
Hunter Biden’s legal troubles do not end with the gun charges. Earlier in July, an original plea agreement collapsed, which would have seen him plead guilty to two misdemeanor tax counts for willful failure to pay federal income tax, thus avoiding jail time on a felony gun charge. Instead, he pleaded not guilty to two misdemeanor tax charges and one felony gun charge.
Attorney General Merrick Garland appointed David Weiss as special counsel to oversee the Hunter Biden investigation and related matters. The White House has declined to comment on these developments, which continue to draw significant public and media attention.
Follow Alexander Carter on Twitter @AlexCarterDC for more!
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Jaye
February 3, 2022 at 5:17 pm
Tax remittences 100% – that money earned in the US does not recirculate in the US economy. ICE raids needed at every Western Union office in the US, every Saturday morning when the crowds line up and circle the block.
MicahStone
February 3, 2022 at 5:50 pm
“Money Migrants Sent Back to Mexico Reached Record at $51.6 Billion”
—WHY BOTHER TO SEND OUR TAX MONEY TO THE IRS ??? LET’S CUT OUT THAT USELESS MIDDLEMAN AND SEND ALL TAX MONEY DIRECT TO mexico.
MicMac69
February 6, 2022 at 4:41 am
Improving Mexicans’ life in Mexico with American $ sent by Mexican migrants might diminish the Mexican exodus towards the US. Being supportive of their families is a value americans have forgot, americans who are angrily splitting in pro-Biden and pro-Trump over Thanksgiving turkey…