Today's BBC featured an article about a small town in Michoacan, the state that has been consumed by drug violence. But today's story centered on the affect that decreasing remittances is having on town, a decline of around 12% thus far. Many families are sending less money from the US to their relatives in Mexico, thereby depressing the local economy. Additionally, some are moving altogether back to Mexico. While the article states remittances make up less than 3% of the country's GDP, they compose a significant portion of revenue in many smaller towns. Read story here.
