COVID-19 at its Peak: López-Gatell
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COVID-19 at its Peak: López-Gatell

Photo by:   Presidencia de la República
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Ricardo Guzman By Ricardo Guzman | Editor - Tue, 06/02/2020 - 21:52

The Ministry of Health reported 97,326 total confirmed positive cases of COVID-19 in Mexico after 3,891 more were added in the last 24 hours. A further 470 new deaths were added to the daily account rising the total to 10,637.

During today’s briefing Deputy Minister of Health Hugo López-Gatell said the epidemic is at its highest level of intensity. “The COVID-19 pandemic is not over. It is at its highest level of intensity,” he said when asked about his remarks in today’s conference with governors and ministers.

He explained that the Valley of Mexico records the majority of cases, hospitalizations and deaths “There the epidemic curve is at its peak level,” he said.

Mexico City with 26,509 cases and State of Mexico with 15,720 are far ahead at the top of national ranking, followed by Baja California, Tabasco and Veracruz.

 

As of Thursday, May 28

3,891     new cases (from yesterday)

97,326   confirmed cases nationwide

42,151   under investigation

10,637   deaths

 

Impact on markets (19.30 hrs)

US Dollar              MX$21.74            (-1.48%)

BMV IPC               37,460.44             (1.30%)

Dow Jones          25,742.65             (1.05%)

 

SCHP recovery plan

The Finance Ministry (SHCP) is carrying out four actions to accelerate the economic recovery, Arturo Herrera said. Public spending scheduled for October and November is being accelerated, especially in projects that will boost jobs and investment such as the Santa Lucía airport and the Dos Bocas refinery. Supporting financial authorities so that they can give loans to companies in sectors that will have a greater impact on the economy and a special coordination with the US value chains, are included in the plan. Herrera explained why a recovery in “an asymmetric V shape” is expected, which means a rapid recovery, but not as fast as the plunge.

 

Meeting to coordinate federal effort

Minister of Interior Olga Sánchez Cordero had a virtual meeting with the country’s governors, ministers and health institutes heads, to agree on the implementation strategy to return to economic activity in the country. “We are maintaining coordination for actions to reactivate economic activities, in accordance with the provisions of this new normality and throughout the national territory”, she said.

 

Aeromexico’s rating downgraded

Moody's downgraded Aeromexico's rating to 'Caa1' from 'B2', the agency has reported. A sharp drop in passenger traffic since the end of March due to the health crisis, as well as a slower recovery, are the main reasons. During April, the airline had a steep passenger drop of 91.1 percent, compared to the same period of the previous year.

 

PAHO suggests cautiousness

The Pan American Health Organization (PAHO) warned that Mexico should not rush and act with caution given new COVID-19 infections. “There is no magic formula, but if transmission (of COVID-19) is still growing, that is an indication that you should not start opening the economy immediately,” PAHO's Deputy Director Jarbas Barbosa said in a video conference.

 

Isolated municipalities with no cases

Social Development Policy Evaluation Council (Coneval) detected that the municipalities where no cases of COVID-19 have yet been presented are those that are farthest from urban areas or that have less accessibility to paved roads. The greatest contagion figures are recorded in urban areas with high poverty rates.

 

Peso still recovering

The peso expanded its recovery against the dollar after ending at MX$21.75 in today trading recording its best quote since March 10, Banxico has reported. While the Mexican currency appreciated 1.48 percent compared to yesterday, the greenback continues to stabilize in international markets.

 

Photo by:   Presidencia de la República

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