“In the case of Sinaloa, most likely the remittance population is moving to other states for violence,” Juan José Li Ng, a senior economist in BBVA Mexico, said Wednesday.
The specialist ruled out that it is a generalized effect of organized crime because remittances “did not fall or Jalisco or Michoacán, which are entities that also have organized crime.”
In the case of the CDMX and the State of Mexico, the fall in the sending of dollars is due to the fact that an important part of the migrants of these entities are qualified personnel who send the money for investments.
“A part of their remittances send it for investment purposes, that is, by the time they return to Mexico and how right the dollar is depreciated, the roughness is worth less and prefer to save it and invest in the United States,” Li Ng added.
They expect 5.8% drop
The bank announced that it expects remittances to have a 5.8%drop, a figure above what banamex estimates 4%.
It would be the first time that remittances fall since 2013 and the largest fall since 2009, when remittances had a 15.5%drop.
