915 New Deaths Raise Total to 40,400

The Ministry of Health reported 915 new deaths from COVID-19 bringing the death count to 40,400. A further 6,859 more positive cases took the national total to 356,255. Active cases amounted to 48,446, representing 12 percent of the national total.

Director of Epidemiology José Luis Alomía said 82,866 suspected cases are still waiting for laboratory results. Over 406,151 people have tested negative and 227,165 have recovered from the virus.

There are 18 states in orange and 14 remaining in red in the country’s epidemiological traffic light system. Hypertension, obesity and diabetes continue to be, in this order, the first three conditions most closely associated with deaths from the virus.

As of Tuesday, July 21

6,859     new cases (from yesterday)

356,255 confirmed cases nationwide

82,866   under investigation

40,400   deaths

Impact on markets (19.30 hrs)

US Dollar              MX$22.30            (-0.94%)

BMV IPC               36,881.67             (1.54%)

Dow Jones          26,840.40             (0.60%)

Herrera explains fiscal strategy

Minister of Finance (SCHP) Arturo Herrera said the administration is not considering increasing the country's debt or the budget approved for 2020, as requested by different representatives of the private sector, to face the COVID-19 pandemic crisis. “If we give a stimulus of 20 percent of the GDP and at a weighted rate close to 6 percent, as other countries have done, the it would imply paying near MX$300 billion in interest the following year, which is almost the cost of all social programs,” Herrera said while participating in a CANACINTRA meeting.

Trump warns “worse” is yet to come

US President Donald Trump said the COVID-19 pandemic will get worse before things improve and pointed out that in some regions of the US territory better results had been observed than in others. “We have asked the population to wear face masks and wash their hands whenever they can,” Trump said, endorsing for the first time the use of masks to contain the outbreak.

79 percent of companies forced to adapt

Over 79 percent of companies consulted by HSBC have had to modify their operation, products and services to adapt to the COVID-19 pandemic new setting. According to a survey carried on 2,604 companies in 14 countries (100 of them Mexican), 47 percent of the respondents consider that they could have been better prepared to face the changes caused by the health contingency.

Citibanamex survey forecast 9.6 contraction

Economic analysts consulted by Citibanamex once again reduced their expectation for Mexico's growth for this year now forecasting a 9.6 percent contraction, after a 9.2 percent plunge was predicted in the previous report. According to the biweekly Survey of Expectations carried out with 29 financial institutions, uncertainty remains high with predictions ranging from a 12.0 percent plunge to the most optimistic 6.5 percent drop.

Mexico signed up for vaccine revolving fund

Mexico is one of the 38 countries that have already sent the Pan American Health Organization (PAHO) a request to participate in the revolving fund for purchasing COVID-19 vaccines, PAHO’s Deputy Director Jarbas Barbosa said. The official added there are more than 150 vaccine projects, of which five are already in Phase 3 of clinical trials.

New portal for decision making

To make a tool that facilitates economic decision-making based on data and evidence available to the public, private, social and academic sectors a tool, the Ministry of Economy (SE) and INEGI launched the Data México digital platform. The new web page includes industry, products, institutions and labor information, with a special COVID-19 and economic indicators sections. (https://datamexico.org/).

Peso gains for second day

The peso marked a favorable return against the US dollar for the second day. According to Banxico, the Mexican currency appreciated 0.94 percent, or 21 cents, ending the trading session at MX$22.30. Progress was accentuated after leaders in the euro zone reached a landmark agreement, which led to a €$750 billion stimulus package.