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So far in 2022, remittances to Mexico show a lower performance in relative terms compared to other countries in the Latin American and Caribbean region such as Guatemala (+20.8%), Honduras (+20.6%), Nicaragua (+ 38.4%) and Brazil (+25.4%).
We estimate China’s optimal foreign reserve level is around USD 2,769.3 billion, USD 454.5 billion lower than the current level. That means, there is still some buffer to reduce the reserve amid risks of western potential sanctions.
Book edited by BBVA Research, BBVA Foundation and the National Population Council (CONAPO) made up of 10 chapters that addresses the main statistics on the multiple migratory flows and human mobility, and remittances at a global level, with an emphasis on Mexico.
Economic activity takes resources from the Earth's natural capital stock and uses the services of its ecosystems, even if they are not (yet) included in national accounting systems.
In my most recent column I explained why I think 2023 will be worse than 2022 in terms of Mexico's economic growth: The slowdown that the US economy will experience, the more restrictive monetary policy and the possible deterioration of real wages due to the high inflation.
September 1, 2022
Mexico | Remittances link 3 consecutive months breaking record and above 5 billon USD
Remittances accumulate three consecutive months marking a historical record. Despite the contraction of GDP in the US, the unemployment rate is at very low levels, which have only been lower for more than 50 years.
The PBoC cut MLF, repo rate and LPR recently to stimulate growth, but it does not indicate China will start a massive easing cycle.
In the previous installment of this column, I analyzed the dynamics shown by the Mexican economy so far this year, which until now has been characterized by the continuation of a slow and incomplete recovery.