News Article

First Female Dies; Fatality Rate is 1.2 Percent

By Ricardo Guzman | Tue, 03/24/2020 - 21:45

One more death and 38 new confirmed cases were reported yesterday by Mexico’s Deputy Minister of Health Hugo López-Gatell. After declaring the start of Phase 2 of the COVID-19 pandemic in Mexico early in the morning, López-Gatell said that after today’s results the fatality rate sits at 1.2 percent. The health official noted that the closure of borders and airports have no effect in preventing a virus from entering a country. Though the first four deaths related to the pandemic in Mexico were male, the first female death was confirmed yesterday.


As of Monday, March 24

38        new cases (from yesterday)

405      confirmed cases nationwide

1,219   under investigation

5          deaths


Impact on markets (20.30 hrs)

US Dollar         MX$25.11       (0.16%)

BMV IPC         34,371.53        (4.27%)

Dow Jones      20,414.4          (9.08%)



Banorte will differ payments

To support clients affected by the COVID-19 pandemic, Grupo Financiero Banorte will defer four months of payments of credit cards, as well as automotive, payroll, mortgage, SME’s and personal credits to those clients who request it. “Today, the COVID-19 pandemic represents a great challenge for everyone. Today they need us, so we are united,” Grupo Financiero Banorte CEO Marcos Ramírez Miguel said.


SRE suspends passports

The Ministry of Foreign Affairs (SRE) suspended the issuance of passports in all delegations from March 27 to April 19, the agency reported in a statement. The e-mail dgdelegación@sre.gob.mx and the telephone contact center 800 801 07 73 are available for information. The chancellery stressed to applicants that paperwork payments are valid for five years.


Cinépolis shuts down

Cinépolis announced that starting Wednesday, over 4,000 theaters in across the country would be closed until further notice. Cinépolis ruled out carrying out any personnel adjustments during the health contingency and highlighted that, although it did hold awareness campaigns, social distancing and additional hygiene measures, the developing emergency has forced the operations to close.


Taxpayers support

The Tax Administration Service (SAT) will expedite balances returns of the 2019 annual tax declaration, the Taxpayer Defense Office (Prodecon) has reported. “Due to the health emergency and to support taxpayer’s economy, the SAT implemented mechanisms to return positive balances within three days”, the report states.


Segob panels on hold

The Ministry of Interior (Segob) will temporarily suspended all working panels with different sectors due to the COVID-19 contingency. So far in 2020 the agency held 87 working panels, while last year 287 were recorded. Unions, mayors and other authorities, ONGs, companies, activists and organizations of all kinds who participate in those panels with Segob will have to wait for the regular agenda to be resumed.


Tortilla prices could rocket

The tortilla price could increase between 20 and 30 percent in the coming days, the Governing Council of the Traditional Mexican Tortilla has reported. Increases in the cost of maize, speculation by some producers and traders and the rising cost of the US dollar are the main reason behind the increase.


Ricardo Guzman Ricardo Guzman Editor