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News Article

74 Deaths in One Day; Confirmed Cases Hit 5,399

By Ricardo Guzman | Tue, 04/14/2020 - 21:13

The Ministry of Health today reported that 74 people have died from the COVID-19 virus in the last 24-hours, bringing Mexico’s total deaths to 406. Confirmed cases now stand at 5,399, with 19.6 percent of patients hospitalized and in a serious condition. According to Epidemiology Director José Luis Alomía, 70 percent of total deaths have been men. Hypertension, diabetes and obesity continue to be, respectively, the first three conditions most closely associated with the deaths. Chronic obstructive pulmonary disease (COPD) and smoking follow. Alomía reported the death of a 25-year-old patient who had congenital heart disease.

During today’s briefing, Deputy Minister of Health Hugo López-Gattel reported on the meeting held by state health secretaries and commented that work is already being done to free up as many hospital beds as possible.

 

As of Tuesday, April 14

385         new cases (from yesterday)

5,399     confirmed cases nationwide

10,792   under investigation

406         deaths

 

Impact on markets (19.30 hrs)

US Dollar              MX$23.53            (-0.67%)

BMV IPC               34,746.39             (0.38%)

Dow Jones          23,949.76             (2.39%)

 

 

Mexico’s GDP down 6.6 percent according to IMF

The global recession will reach 3 percent and Mexico’s GDP will plunge 6.6 percent this year, the International Monetary Fund's (IMF) has reported. The impact on the Mexican economy will be the greatest among countries in the Americas,  mainly influenced by the collapse in oil prices and the expected recession in the US. IMF expects Latin America to contract 5.2 percent in 2020, overwhelmed by the drop in raw materials prices amid the disruption in supply chains generated by the pandemic. “It is very likely that this year the global economy will experience its worst recession since the Great Depression, surpassing that seen during the financial crisis a decade ago,” IMF Chief Economist Gita Gopinath stated in April´s World Economic Outlook (WEO).

 

Oil still plunging

The Mexican crude oil basket lost 10.84 percent during trading, and closed at US$15.30 per barrel today. Although yesterday it had a 3.75 percent gain after OPEC+ agreement to reduce the world supply by 10 percent effective on May 1, today the Mexican basket witnessed its worst decline since March 30, when it fell 20.29 percent. Oil prices also fell  in New York making clear that investors are still skeptical about the possibility that the agreement between oil exporters is enough to compensate the fall in demand and prices. WTI lost 10.3 percent to settle at US$20.11 and Brent was down 7 percent at US$29.70.

 

9 million masks from General Motors

General Motors (GM) will adapt its plant in Toluca, State of Mexico, to produce 9 million masks in six months. According to a company’s statement, production will start late in April and it will be destined for donations to Mexico City, San Luis Potosí, Guanajuato and Coahuila hospitals. During a 6-month period, General Motors will produce approximately 1.5 million Level 1 surgical masks per month. “I am very proud of the group of employees who decided to participate to support us in this project,” GM Mexico CEO Francisco Garza said. The US firm is also analyzing the possibility of producing other types of masks in the same plant.

 

Peso recovers against US Dollar

The US dollar ended the day at MX$23.53 pesos, gaining  0.67 percent on yesterday’s value, according to Banxico data. The Mexican currency gained in the last hours of trading ¡ in line with most emerging currencies, fueled by better-than-forecast economic data in China which also boosted optimism in the local stock market.

 

UNAM new platform

To cope with the rapidly changing figures on the pandemic, UNAM researchers created a platform with the COVID-19 geographic information in Mexico. The interactive map allows queries of variables such as virus spread, comorbidities and hospital infrastructure. UNAM researchers created this platform to concentrate all data available on the evolution of the virus so that it can to help vulnerable populations. https://covid19.ciga.unam.mx/

Ricardo Guzman Ricardo Guzman Editor