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59,567 Cases and 6,510 Deaths Recorded

By Ricardo Guzman | Thu, 05/21/2020 - 21:32

The Ministry of Health recorded 420 more deaths from COVID-19 since yesterday, bringing the total to 6,510. Mexico now has 59,567 confirmed positive cases, 2,973 more than yesterday, according to the daily report. In the last two days the death toll reached 844 while new infections added new 5,221 cases.

After today's results, Mexico became the tenth country with most deaths recorded, according to Johns Hopkins University. The US, Great Britain, Italy, France, Spain, Brazil, Belgium, Germany and Iran are, in that order, the top nine spots. Mexico is 16th in the world for infections.

The Metropolitan area is still the most affected spot with Mexico City recording 16,758 cases followed by State of Mexico with 9,661, and way beyond Baja California’s 3,780 cases on the third spot. 

 

As of Thursday, May 21

2,973     new cases (from yesterday)

59,567   confirmed cases nationwide

32,291   under investigation

6,510     deaths

 

Impact on markets (19.30 hrs)

US Dollar              MX$22.86            (-1.40%)

BMV IPC               35,560.76             (-1.29%)

Dow Jones          24,474.12             (-0.41%)

 

 

4x10 working hours scheme

Federal and Mexico City governments are assessing the modification of working hours and implementing a 4x10 scheme as one of the key elements on the plan to reopen workplaces after the COVID-19 peak. This scheme implies working 10 hours for four days a week, which would help reduce crowds.

 

COPARMEX endorses Mexico City plan

The Gradual Plan Towards the New Normality presented by the Mexico City Head of Government Claudia Sheinbaum will represent a big challenge, however, COPARMEX’s Mexico City brand believes the plan to be well-structured and with relevant objectives. Through a statement, the business group agreed that confinement rules should not be relaxed until hospitalizations and contagion rates are reduced.

 

GM Silao resumes operations

General Motors is restarting operations in assembly lines at its manufacturing complex in Silao, Guanajuato, according to a company message sent to its workers. The reopening of the company's facility is a positive sign for the North American automotive sector, whose supply lines are highly interconnected between the US, Mexico and Canada.

 

Dollar is at MX$22.86

The Mexican peso extended to six the streak of consecutive gains against the US dollar. At the end of today’s trading session the exchange rate stood at MX$22.86 against the MX$23.18 units recorded yesterday, according to Banxico.

 

BBVA Research makes warning about poverty

The COVID-19 economic crisis would add between 12 and 16.4 million people living in poverty in Mexico, according to BBVA Research. The bank’s economic studies area set up two scenarios for this year with GDP contractions of 7.0 percent and 12.0 percent. Considering the first scenario, people living in poverty could reach 58.4 percent of the population, which would represent an increase of 12 million.

 

Special beer edition

Grupo Modelo reported that it will brew a special beer edition with barley purchased from Mexican producers during the COVID-19 pandemic. “We are buying barley in this harvest so that thousands of farmers and their families can move on,” said premium brands head Alejandro Gutierrez.

 

Retailers warning

In June, between 1,500 and 2,500 stores, of the 14,000 stores operate within shopping centers may close after failing to reach an agreement on rent payments, the Union of Retailers of Mexico (URM) has warned.

Ricardo Guzman Ricardo Guzman Editor