9,444 Deaths, 81,400 Confirmed Cases

The Ministry of Health reported in today’s briefing that 9,444 people have died so far of COVID-19, after 447 more cases were recorded since yesterday. Confirmed cases amount to 81,400, of which 16,315 are active. Three days before Mexico will officially end the social distancing initially planned, another 3,377 new cases were added to the daily account.

Besides the confirmed deaths, another 783 deaths are listed as suspicious, as lab test results are pending the cases reported in mid-April.

Deputy Minister of Health Hugo López-Gatell said Mexico City leads the regions of the country in both cases and deaths, followed by State of Mexico and Baja California. The official stated that all states have availability in both general hospitalization and beds with ventilators.

CONACYT head María Elena Álvarez-Buylla said scientific and technological development is essential for the organization, which is why this office will increase its support for training specialists.

As of Thursday, May 28

3,377     new cases (from yesterday)

81,400   confirmed cases nationwide

33,566   under investigation

9,044     deaths

Impact on markets (19.30 hrs)

US Dollar              MX$22.33            (0.41%)

BMV IPC               36,889.96             (1.89%)

Dow Jones          25,548.27             (2.21%)

Banxico warns of risks ahead

Most of Banxico’s board members believe that the national economy’s recovery is subject to considerable risks such as new COVID-19 outbreaks, and the scope, depth and duration of the pandemic. After the central bank’s recent monetary policy meeting, some members also mentioned that although the global recovery conditions are similar, in the case of Mexico a modest fiscal response could slow down the economic recovery even further.

Inflation is contained

Banxico Governor Alejandro Díaz de León told senators that despite the crisis being faced by the COVID-19 pandemic, inflation is being contained. During a virtual meeting, Díaz de León said a greater impact could be felt in the next quarter. “The second quarter is probably where we may have the most pronounced impact. This will be determined soon,” he said.

Gurría expects long recovery

An economic reactivation that places the world where we were before the COVID-19 pandemic will not be possible next year, OECD head José Ángel Gurría said. The official explained that the global economy contraction will be worse given stopped businesses, unemployment, lower consumption and the disruption of global supply chains.

PEMEX misses reactivated production target by 25 percent

PEMEX had a production of 21,800 daily barrels of crude on Q1 in the 17 priority fields reactivated in 2019 as part of its plan for national oil industry reactivation. The reported extraction represented only one quarter of the 89,000 barrels per day expected, CNH has reported.

Mexican crude at US$27.92

The Mexican crude basket ended today’s trading with a gain of 0.55 dollars or 2 percent compared to Wednesday’s price, after being quoted at US$27.92 per barrel, PEMEX has reported. Mexican crude recovered part of yesterday’s losses. Brent rose 55 cents, or 1.58 percent to US$35.29 per barrel while WTI gained 90 cents, or 2.74 percent at US$33.71 per barrel.

50 ventilators from the US
A plane with 50 ventilators for COVID-19 patients in Mexico City and Guerrero arrived today from the US, Foreign Affairs Minister (SRE) Marcelo Ebrard reported on his Twitter account.

New INSABI COVID-19 hospitals

Ministry of National Defense (SEDENA) reported INSABI COVID-19 Hospital Number 6 in Culiacán, Sinaloa, is operational. Also, in Durango the INSABI COVID-19 number 7 Hospital was inaugurated.