48,012 Deaths, 443,813 Positive Cases

The Ministry of Health reported 266 deaths in the last 24 hours from COVID-19 bringing the total to 48,012. A further 4,767  infections from yesterday were confirmed, increasing the national accumulated to 443,813 positive cases.

During today’s briefing director of epidemiology José Luis Alomía said there are currently 42,360 estimated active cases, or people who started with symptoms in the last 14 days and who could transmit the virus, representing 8 percent of confirmed cases. Over 488,207 patients tested negative and 295,677 people already recovered from the new virus, he added

Alomía said there is 45 percent of hospital occupancy in general beds nationwide, with Nuevo León and Nayarit exceeding the security line of 70 percent. ICU occupancy is at 38 percent, with Nuevo León, Tabasco and Baja California reporting the highest saturation.

As of Monday, August 3

4,767 new cases (from yesterday)

443,813 confirmed cases nationwide

79,030   under investigation

48,012   deaths

Impact on markets (19.30 hrs)

US Dollar              MX$22.62            (1.87%)

BMV IPC               37,546.72             (1.42%)

Dow Jones          26,664.40             (0.89%)

Meeting to discuss traffic light

The federal government agreed with six governors that the COVID-19 epidemiological traffic light will be used mostly as an “indicative reference” from now on. “Working in coordination with health security measures, we have agreed that the traffic light will be oriented primarily to measure risks as an indicative reference,” reported SEGOB head Olga Sanchez Cordero after the face-to-face meeting between Cabinet members and state leaders who criticized the federal strategy during the weekend asking for a change.

Banxico survey forecasts 10.2 percent plunge in 2020

The collapse of the Mexican economy in 2020 will reach 10.2 percent, according to the Banxico monthly survey carried out among 36 specialists. The projected plunge will be the result of the historical 17.3 percent contraction recorded in Q220. A GDP rebound 7.62 percent for the July-September period and a more measured rebound of 3.52 percent for the last stretch of 2020 are also expected.

Dollar at MX$22.62

The Mexican peso started this week in negative territory against the US dollar. The exchange rate ended today’s trading at MX$22.62 per greenback, against MX$22.21 last Friday, according to Banxico data. Today the US dollar reported stronger results after recording its worst month since January 2018.

Tourism relies on USMCA

Minister of Tourism (SECTUR) Miguel Torruco said the USMCA trade treaty will help the sector’s recovery. “We know that with this treaty we are in a better position to face the enormous challenges that economic reactivation demands of us,” he said during a webinar. Torruco said the US and Canada investments to Mexico until March 2020 totaled US$318 billion representing more than 50 percent of total foreign direct investment (FDI).

WHO warns of no-solution

The World Health Organization (WHO) warned that there may never be a solution on the COVID-19 pandemic, despite the ongoing race to obtain a vaccine. “There is no solution and perhaps never will be,” WHO head Tedros Adhanom Ghebreyesus said in a briefing.

Russia reports having a vaccine

The Russian Ministry of Defense reported that a vaccine against COVID-19 under development with the N.F. Gamaleya Epidemiology Research Center generated immunity in all volunteers who took it. “No side effects or abnormalities were found,” the ministry stated and announced that a massive vaccination campaign will start on October, with health personnel receiving the first doses.