Mexican President Sees Remittances up Nearly Seven Percent in June, July

The vast bulk of Mexico’s remittances are sent by millions of Mexicans living in the United States, and the president said he expected 2020 to be a record-breaking year for them.

RIO DE JANEIRO, BRAZIL - (Reuters) Mexico continued to enjoy robust growth in remittances in June and July in spite of the economic slump sparked by the coronavirus crisis, President Andres Manuel Lopez Obrador said on Saturday evening.

Drawing on the latest economic data, Lopez Obrador in a video address on YouTube estimated that remittances reached some $3.4 billion in June and $3.48 billion in July, up about 6.8% each from a year earlier.

Remittances stood at $3.38 billion in May, the second-highest for any month on record.

The vast bulk of Mexico’s remittances are . . .

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