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News Article

Death Count Nears 50,000 After 829 New Deceased

By Ricardo Guzman | Wed, 08/05/2020 - 21:13

The Ministry of Health reported that 49,698 people have died due to COVID-19 in Mexico so far after 829 more deaths were confirmed in the last 24 hours. A further 6,139 new cases brought the national total to 456,100, of which 44,636 are thought to be active or with symptoms of in the last 14 days.

In today’s briefing, Deputy Minister of Health Hugo López-Gatell asked the people not to relax their personal prevention measures. “Nine states have a three-week decline and 16 states have reached stability, or no change in daily cases”, he noted.

Confirmed cases worldwide rose over 18.8 million and deaths broke the 700,000 barrier, according to World Health Organization (WHO) data.

 

As of Wednesday, August 5

6,139 new cases (from yesterday)

456,100 confirmed cases nationwide

85,845   under investigation

49,698   deaths

 

Impact on markets (19.30 hrs)

US Dollar              MX$22.37            (-2.01%)

BMV IPC               37,901.96           (1.16%)

Dow Jones          27,201.52             (1.39%)

 

COPARMEX warns on PEMEX, CFE plan

President’s Andrés Manuel López’s instruction for industry authorities to favor PEMEX and CFE alters the rule of law by violating fair competition and energy transition laws, COPARMEX head Gustavo de Hoyos has warned. The leader of the employers’ confederation said that the president’s suggestion will drive investment away by returning to a failed energy model. “It is urgent to guarantee the regulatory framework to give certainty to private sector investments,” De Hoyos said regarding a memo released yesterday where the president suggests the possibility of ​​proposing a counter-reform to the Energy Reform passed in 2014.

 

China is top trading partner with US

Despite the ongoing trade dispute between the US and China, the Asian nation was the top trading partner with the US in June, according to the US Department of Commerce. Last month China was responsible for 16.5 percent of all US’ international trade in goods, followed by Mexico’s 14.6 percent and Canada with 14.2 percent. China overtook Canada as the US’ number one trading partner from 2015 until 2018, before Mexico became the primary partner in 2019.

 

Citibanamex survey expects 9.8 percent plunge

Mexico's economy will suffer a 9.8 percent contraction this year according to the latest Citibanamex survey among 28 financial institutions and brokerage firms. This forecast reflects a drop similar to that estimated in Banxico’s recent survey, where a 9.9 percent drop is expected in GDP this year. The previous survey carried out by Citibanamex reflected a contraction of 9.6 percent. 

 

Mexico and UK push for vaccines for the region

The governments of Mexico and the UK have appealed for future COVID-19 vaccines to be accessible to all, particularly Latin American countries. Foreign affairs ministers of both countries, Dominic Raab and Marcelo Ebrard, inaugurated the virtual seminar Accelerating COVID-19 Vaccine Access in Latin America and the Caribbean, among global businessmen and international organizations representatives.

 

Trump warns on Mexico’s COVID-19 problem

US President Donald Trump once again warned on Mexico’s “many problems” with COVID-19 and insisted that the wall was slowing the spread of the virus. “We have 444 kilometers of wall so far. Thank God we have them, because Mexico is highly infected,” Trump said, assuring that Democratic rival Joe Biden wanted neither a wall nor borders. “Mexico is having tremendous problems with COVID-19. We will have the wall completed, almost completed by the end of the year,” he said.

 

Oaxaca moves against junk food

Oaxaca’s House plenary session approved a reform to the law that prohibits the sale of junk food and sugary drinks to underage people. The reform is aligned with the federal strategy to combat obesity, one of the main reasons COVID-19 comorbidity reasons.

 

COVID-19 hospitalization costs

The total cost of hospitalization for COVID-19 depends on the severity of the case and the services required during the hospitalization. For example, the average cost of being intubated is almost one million pesos (947,709 pesos), while the average cost of entering intensive care is around 900,000 (895,814 pesos), El Economista reported, quoting insurance institutions association AMIS.

Ricardo Guzman Ricardo Guzman Editor

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