The world at a glance . . . Americas

Americas

Mexico City

Money flows northward: In a sign of the recession’s severity in the U.S., Mexicans have begun sending money to their relatives north of the border, instead of the other way around. The so-called “reverse remittances,” once extremely rare, are becoming more common as Mexicans who moved to the U.S. for work have lost their jobs. “We haven’t been able to measure it,” banker Martín Zuvire Lucas told The New York Times, “but we hear of more cases where money is going north.” Banks do measure the money sent from Mexicans in the U.S. to their families back home, and they say that amount has dropped by more than 13 percent since last year.

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