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July 02, 2020

Ministry of Health reported Mexico’s highest daily increase of COVID-19 cases with new 6,741 confirmations, bringing the total to  238,511 nationwide, of which 25,565 are active cases, or patients with symptoms in the last 14 days.

Director of Epidemiology José Luis Alomía also reported 679 new deaths in the daily report with total deaths now standing at 29,189. A further 2,185 suspicious deaths are still waiting for laboratory results.

Mexico City tops the state infections list with 49,573 confirmed cases and also has the highest number of deaths. The State of Mexico is second in both categories totaling 35,631 positive cases. Tabasco is third place with 11,165 cases, while Baja California has the third highest death rate.

Alomía reported that 45 percent of general beds are occupied nationwide and that Tabasco registers the maximum hospital occupation with 70 percent.


As of Thursday, July 2

6,741     new cases (from yesterday)

238,511 confirmed cases nationwide

76,423   under investigation

29,189   deaths


Impact on markets (19.30 hrs)

US Dollar              MX$22.47            (-1.39%)

BMV IPC               37,894.08             (0.73%)

Dow Jones          25,827.36             (0.36%)



BRP announced US$136 million plant

Bombardier Recreational Products (BRP) announced a US$136 million investment in Mexico, the first of the USMCA trade treaty. “BRP made the first investment announcement in Mexico in the USMCA era. They will build an assembly plant in Ciudad Juárez for the production of 4-wheel vehicles, expected to generate at least 1,000 permanent jobs,” the Ministry of Economy published on Twitter. In a statement, BRP CEO José Boisjoli said that despite the COVID-19 pandemic, demand has remained strong and even exceeded last year's figures for the same period.


500,000 companies will close

ECLAC estimated that as a result of the COVID-19 crisis around 500,000 formal companies will close permanently in Mexico. “Sectors most affected will be retail-wholesale, tourism and manufacturing,” said the UN office’s head Alicia Bárcena.


Business sector snubbed

For the first time the business sector was not invited to a signing ceremony of a trade agreement, CCE Carlos Salazar head lamented. “We have accompanied authorities for so many years in achieving treaties,” he said. Salazar noted that the USMCA trade treaty will drive investment in Mexico, but like any investment process, certainty is needed.


Cases spike in the US

The COVID-19 infection curve is increasing in 40 out of 50 US entities, which yesterday recorded over 50,000 new cases nationwide in one day. According the media reports the most severe outbreaks are in Arizona, Texas and Florida, which along with California have pushed back reopening bars, restaurants and cinemas. In Texas the mandatory use of masks was announced.


Cuernavaca pulls back reopening

Cuernavaca mayor Antonio Villalobos said that his government will comply with the determination of the Supreme Court of Justice of the Nation (SCJN), which yesterday invalidated the authorization of the council to allow the resumption of economic activities in Morelos’ capital city.


Curfews by criminal groups

Taking advantage of the health contingency, organized crime groups have enforced curfews and even tax collections, according to a report by the Ministry of the Interior (Segob). The agency detailed that in April curfews were carried out in Iguala, Guerrero, as well as in Culiacan and Los Mochis, in Sinaloa.

July 01, 2020

The Ministry of Health reported 741 new deaths from COVID-19, bringing the total to 28,010. There are 231,770 accumulated cases, after 5,681 new more confirmations were reported.

During today’s briefing Director of Epidemiology José Luis Alomía reported that a total of 595,917 people that have been tested, of which 289,142 were negative. The official noted that 138,319 people have recovered from the virus representing 60 percent of the total accumulated cases.

After today’s results, Mexico passed Spain in the number of deaths to come sixth in the list of countries with the highest number of deaths from the virus, according to Johns Hopkins University. Likewise, Mexico also passed Iran in confirmed cases to become the tenth country most affected by the pandemic.


As of Wednesday, July 1

5,681     new cases (from yesterday)

231,770 confirmed cases nationwide

75,005   under investigation

28,510   deaths


Impact on markets (19.30 hrs)

US Dollar              MX$22.79            (-0.72%)

BMV IPC               37,619.77             (-0.26%)

Dow Jones          25,734.97             (-0.30%)


AMLO insists on recovery plan

To overcome the COVID-19 crisis President Andrés Manuel López Obrador said that he will push for social programs to reach 70 percent of families in the country by the end of this year. “Those from the pyramid base will receive more benefits,” he said during a message commemorating the second anniversary of his electoral victory. The president said that COVID-19 precipitated the fall of the neoliberal model and highlighted that the USMCA trade treaty, effective from today, will be key to boost productive activities and create new jobs, since Mexico neighbors the strongest economy in the world.


Need for investment, says Herrera

The USMCA trade treaty only represents a basis for attracting new investments, so the right conditions must be set to secure those, Ministry of Finance (SHCP) Arturo Herrera said. “We have to look for, and to create the right conditions to generate new investments in our country. Do it bilaterally and hand in hand with the private sector,” Herrera said in a video message recorded from his home, where he is recovering after testing positive for COVID-19. Herrera said that USMCA will relaunch the Mexican economy.


USMCA, opportunity for Mexico

The Mexican economy has a great opportunity to achieve a significant recovery taking advantage of the USMCA trade treaty, said the World Bank head David Malpass. “It will be very important what Mexico decides to do with the great benefit of free trade with the United States, which in any scenario, will probably be one of the greatest engines of growth,” Malpass said in a webinar.


Orange closer to red, warns Sheinbaum

After the reopening of restaurants in Mexico City in the orange epidemiological traffic light, the city’s Head of the Government Claudia Sheinbaum warned people to keep abiding strict measures since the orange light is closer to full lockdown measures than it is to full reopening. “Orange is closer to red than the green light. This means we are on alert, that COVID-19 is still a disease among us and that the only way to protect ourselves is by following the rules properly,” she said.


Remittances rise 18.1 percent in May

During May, remittances sent to Mexico increased 18.1 percent compared to the previous month totaling US$3.37 billion, according to Banxico. This figure exceeded US$2.88 billion dollars sent by migrants in April. At an annual rate, remittances have increased 3 percent.


Vaccine moves forward

US’ Pfizer and Germany´s BioNTech announced that they had obtained positive results in initial human trials with the COVID-19 vaccine in which they are working. A study conducted on 45 adults aged between 18 and 55 years gave promising results both companies stated.

June 30, 2020

The Ministry of Health reported 648 new deaths from COVID-19 bringing the total to 27,769 nationwide. There are 226,089 positive cases, after a further 5,432 confirmations were added since yesterday.

Active cases amount to 23,782.

Director of Epidemiology José Luis Alomía said cases rose 2.5 percent since yesterday, something that was already expected by health authorities. During today’s briefing in National Palace he also reported there are 72,041 accumulated suspected cases.

Mexico City leads states in confirmed cases with 48,104, the State of Mexico follows with 34,253 while Tabasco’s numbers are still increasing and is now in third place with 10,673. In deaths, Mexico City and State of Mexico are on top followed by Baja California.

Global confirmed cases are nearing 10.5 million while the virus has claimed half a million live, according to Johns Hopkins University.


As of Tuesday, June 30

5,432     new cases (from yesterday)

226,089 confirmed cases nationwide

72,041   under investigation

27,769   deaths


Impact on markets (19.30 hrs)

US Dollar              MX$22.95            (-0.66%)

BMV IPC               37,716.43             (-0.14%)

Dow Jones          25,812.88             (0.85%)



Tax collection drops

A sharp plunge in oil revenues and in the collection of Value Added Tax (VAT) caused a 23.1 percent drop in budget revenues during May, after amounting for MX$326.85 billion. May’s results were dragged down after oil revenues collapsed 89.8 percent in real terms and VAT fell 36.5 percent, compared to last year’s results, according to the Ministry of Finance (SHCP).


Alcalde calls for labor agenda in USMCA

The USMCA trade treaty entry into force will improve wages and conditions for Mexican workers, Minister of Labor (STPS) Luisa María Alcalde said. During a forum, Alcalde highlighted that the labor agenda is a key element for the regional trade agreement. “We are going through the implementation of a labor reform quickly and in a coordinated manner, making all necessary changes so workers can choose through their personal, free, direct and secret vote, who will represent them,” she said.


Mining plunges

After suspension of operations in the face of the COVID-19 pandemic, the mining-metallurgical production in Mexico decreased 25.1 percent in real terms  during April, compared to the same month last year, INEGI has reported. This index, that includes extraction, processing and refining metallic and non-metallic minerals decreased by 24.4 percent, based on seasonally adjusted figures in the fourth month of 2020.


Volkswagen complies with STPS

Volkswagen approved the inspection carried out by the Ministry of Labor (STPS) on safety and hygiene protocols, the German auto firm stated. "It was an inspection with a 100 percent approval, we received good feedback from the STPS,” Communication head Mauricio Kuri said.


Mexican crude has best quarter

The Mexican crude basket recorded its best quarter since prices are recorded after rocketing 218.5 percent, going from US$10.76 per barrel at the end of March, to US$34.28 at the end of June, according to Bloomberg data. It was a major recovery after poor demand led prices into negative terrain for the first time in history in late April.


Pesos loses 3.3 percent in June

The peso appreciated 0.67 percent this Tuesday against the US dollar on Tuesday, after ending today’s trading at MX$22.95 units according to Banxico. In the sixth month of 2020 the Mexican currency recorded a 3.3 percent contraction.

June 29, 2020

The Ministry of Health reported that 27,121 people in total have now died from COVID-19 after 473 new deaths were added in today’s report. Total infections rose to 220,657 after 3,805 cases were confirmed in the last 24 hours. Of the accumulated positive cases, 23,389 are active director of Epidemiology José Luis Alomía said. The states reporting the most recent cases are Mexico City, State of Mexico, Puebla, Guanajuato and Tabasco.

The official reminded the conference that the states in orange traffic light are Aguascalientes, Baja California Sur, Campeche, Chiapas, Chihuahua, Mexico City, Coahuila, Durango, Guanajuato, Jalisco, Michoacan, Queretaro, Quintana Roo, San Luis Potosi, Tamaulipas, Veracruz, Yucatan and Zacatecas. The rest of the country is on red.


As of Monday, June 29

3,805     new cases (from yesterday)

220,657 confirmed cases nationwide

66,910   under investigation

27,121   deaths


Impact on markets (19.30 hrs)

US Dollar              MX$23.10            (0.57%)

BMV IPC               37,769.20             (0.90%)

Dow Jones          25,595.80             (2.32%)


Mexico to test experimental vaccine

Mexico is in talks with China's government and pharmaceutical company AstraZeneca to test an experimental vaccine against COVID-19, Deputy Minister of Foreign Affairs (SRE) Martha Delgado said. In an interview with Reuters, the official noted that Mexico is in talks to collaborate with different countries and laboratories working on experimental vaccines. “We had conversations with the University of Oxford and also directly with AstraZeneca,” Delgado said.


Gradual recovery has started, says Yorio

The country has already started with the economic recovery, Deputy Minister of Finance (SHCP) Gabriel Yorio said. “When the contingency started, we designed various packages of measures that depended on different recovery scenarios. A gradual recovery has already started as long as all productive sectors and states reopen activities,” he said in a virtual briefing.


Hotel chains predict full reopening in 2021

The National Association of Hotel Chains (ANCH) anticipated that it will be until January of next year when all of its units will be open, the office head Luis Barrios said. “We are seeing a slow recovery which will not be even throughout the country,” he said and explained some areas in the country will see a greater benefit since they already started lowering on the infection curve.


Mexico capable to develop vaccine

Minister of Health (SSA) Jorge Alcocer said Mexico has the scientific and technological capacity to develop a COVID-19 vaccine. “Mexico has the scientific and technological capacity to promote the development of biomedical, pharmacological, genomics and proteomic research,” he said.


Dollar starts week at MX$23.11

The Mexican peso ended the first day of the week with losses. The exchange rate closed at MX$23.11 units per dollar, against the MX$22.98 recorded last Friday, Banxico has reported. The growing cases of COVID-19 infections and deaths in the US and Brazil are still affecting markets according to analysts.


June 28, 2020

The Ministry of Health reported there are 26,648 deaths from COVID-19 and 216,852 accumulated cases, of which 25,558 are active after starting with symptoms in the last 14 days.

There was an increase of 267 deaths while positive cases rose to 4,050 Deputy Minister of Health Hugo López-Gatell detailed in today’s briefing. There are further 64,143 cases still under investigation.

Mexico City, State of Mexico and Puebla are the states that top the list of positive cases reported in the last two weeks López-Gatell said, highlighting that these active cases represent the highest threat, since they can transmit the virus. On the other hand, Chihuahua, Colima, Zacatecas and Quintana Roo are the entities with the least active cases.


As of Sunday, June 28

4,410     new cases (from yesterday)

216,852 confirmed cases nationwide

64,143   under investigation

26,684   deaths


AMLO rules out recession

President Andrés Manuel López Obrador ruled out a recession due to the COVID-19 crisis, since he insisted the economic recovery of Mexico will be in the shape of a “V” letter, which implies a sudden drop followed by a rapid rise. “Some analysts think is not going to be a ‘V’, but an ‘L’, which is falling and staying at the bottom, with an economic recession. Fortunately, this won’t happen,” he said in a video message. López Obrador said that, according to preliminary data he has, 70,000 formal jobs have been lost in June. He said that no further jobs will be lost due to the pandemic in July.


Over 10 million cases worldwide

The number of COVID-19 deaths worldwide passed the 500,000 mark today, according to the Johns Hopkins University (JHU) account. Contagions also passed through the 10 million barrier. The US, which is experiencing major outbreaks in southern states such as Florida and Texas, remains the country with the highest number of cases with more than 2.5 million and over 126,000 deaths.


Graciela Marques tests negative

After being in contact with Finance Minister (SHCP) Arturo Herrera, who tested positive for COVID-19, Minister of Economy (SE) Graciela Márquez reported her results were negative. Via her Twitter account, Márquez said that she will continue following all recommendations to avoid contagions.


Bonus or unionized IMSS workers

IMSS reported that a COVID-19 bonus worth MX$871 million has been allocated for workers affiliated to the Social Security Union (SNTSS). IMSS head Zoé Robledo said SNTSS workers are facing the greatest professional challenge in their entire history, so they deserve the special bonus.


Putin tests himself on a regular basis

Russian President Vladimir Putin undergoes COVID-19 tests once every three to four days, according to an interview with Russian public television. Putin said there is no reason to think of an artificial origin of the virus, and called on countries to join efforts to face the epidemic, instead of speculating on its origins.