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News Article

1,221 Deaths and 12,872 Positive Cases Reported

By Ricardo Guzman | Fri, 04/24/2020 - 21:36

There are 77 deaths suspected of having been caused by COVID-19, so in the next hours the data will be updated to know how many people have died due to the virus, Director of Epidemiology José Luis Alomía said during today’s special briefing. The Ministry of Health confirmed 152 new deaths in Mexico, bringing the total number to 1,221. There are now 12,872 positive cases recorded, representing an increase of 1,239 since yesterday.

Deputy Minister of Health Hugo López-Gatell said Mexico City authorities would take the wise decision to rely on Cuban experts that would come to Mexico to support the country’s health plan  given the lack of staff in national territory. He did not specify when or how many foreign doctors are expected to arrive.

 

As of Friday, April 24

1,239     new cases (from yesterday)

12,872   confirmed cases nationwide

7,889     under investigation

1,221     deaths

 

Impact on markets (19.30 hrs)

US Dollar              MX$25.12            (1.48%)

BMV IPC               34,586.82             (1.01%)

Dow Jones          23,775.27             (1.11%)

 

 

USMCA starts July 1

Today, the US Government notified the US Congress that Mexico and Canada have complied with all the internal procedures required for the USMCA trade treaty, so the regional agreement will finally enter in force on July 1, the Ministry of Economy (SE) has reported. “The forthcoming entry into force of the USMCA trade will boost the economic recovery of our country and of the North American region, after the health emergency caused by COVID-19,” the agency said. Earlier today US Trade Representative (USTR) Robert Lighthizer reported on the Congress decision. “The pandemic recovery shows that now, more than ever, the US should strive to increase manufacturing capacity and investment in North America,” Lighthizer said. 

 

Foreign health professionals

Public health institutions and state governments may hire foreign health professionals to attend the COVID-19 pandemic in Mexico, according to an agreement published by the Ministry of Health in the Official Gazette of the Federation (DOF). The document establishes that the state health ministries, the Ministry of National Defense and Navy, as well as Insabi, IMSS and ISSSTE are the institutions qualified to recruit the necessary personnel. Hiring would be exclusively for the duration of the health emergency.

 

Highest oil production in 18 months

PEMEX and private companies reached their highest production figure in the last 18 months in March. In the third month of this year the national production, which includes both from private companies and PEMEX, reached 1.746 million barrels per day according to the National Hydrocarbons Commission (CNH). This is the highest figure since September 2018, when daily production reached 1.804 million.

 

Worst week ever for Mexican crude basket

Marked by the negative prices on Monday and a moderate recovery in the following days, the Mexican crude basket endured its worst week since prices began being recorded, after closing at US$8.53 per barrel today, according to PEMEX data. This is 40.56 percent less than last Friday's closing at US$14.35. So far this year Mexican crude has accumulated  losses of 84.81 percent. On today’s trading, the Mexican basket recorded a mild drop of 0.12 percent after three days of modest consecutive gains. The US international benchmark WTI rose 2.67 percent to US$16.94, while Brent fell 1.33 percent to US$21.44.

 

Daily briefing on loans

Over 27,000 loans for SMEs are already approved, IMSS head Zoé Robledo said during the first daily briefing to report on the progress of the federal loans program. Robledo recalled that 1 million loans will be granted for SMEs that are listed in the Bienestar program.

 

Ricardo Guzman Ricardo Guzman Editor