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News Article

Health Emergency Declared; Isolation Till April 30

By Ricardo Guzman | Mon, 03/30/2020 - 21:09

After the National Health Council declared a health emergency in Mexico “due to force majeure” given the COVID-19 pandemic, the federal government has extended the suspension of non-essential activities until April 30. This measure applies to public and social sectors, Deputy Minister of Health Hugo López-Gattel reported.

Likewise, sectors and activities that have been identified as essential must respect all contingency procedures, which include the suspension of activities with more than 50 people gathered together, frequent hand washing, sneezing and coughing according to protocol, and keeping a healthy distance from others to prevent physical contact.

Health authorities urged the entire population to comply with the home isolation decree, which strictly applies to all those over 60 years, people with chronic degenerative conditions as well as pregnant women, regardless of their activities. The March 30 COVID-19 special briefing was attended by Secretary of Interior (SEGOB) Olga Sánchez, Foreign Affairs Minister (SRE) Marcelo Ebrard, National Defense Minster (SEDENA) Luis Cresencio Sandoval, Health Minister Jorge Alcocer and by Navy Minister (SEMAR) Rafael Ojeda.

 

As of Monday, March 30

101         new cases (from yesterday)

1,094     confirmed cases nationwide

2,564     under investigation

28           deaths

 

Impact on markets (19.45 hrs)

US Dollar              MX$24.28            (3.29%)

BMV IPC               34,199.97             (1.18%)

Dow Jones          22,243.14             (2.80%)

 

 

Mexican and US investments on hold

Over 58 percent of the companies in Mexico and the US have deferred or canceled planned investments, according to PwC’s CFO COVID-19 Pulse Survey carried out by 55 financial officers.  PwC’s Chief Clients Officer Amity Millhiser said companies are responding to the pandemic’s inevitable impact on revenues. “Many companies are grappling with how to maintain financial and operational stability while navigating this crisis, and CFO confidence in their business' ability to recover within months continues to wane,” said Millhiser. According to the survey, 84 percent of CFOs are worried about a global economic recession, 64 percent about cash flow and 45 percent are concerned about a decrease in consumption.

 

Mexican mix hit lowest level

The Mexican export mix fell 20.29 percent on Monday to US$10.37 per barrel, its lowest level since the Mexican crude prices have been recorded. According to data from Banxico and PEMEX, today's price is the lowest observed since March 11, 1999. Global oil references prices, including the Mexican mix, have been deeply affected by a reduced global demand for fuels, a situation that today got even worse after Saudi Arabia and Russia promised to increase their production, adding more stress to the price war that has caused oil prices to plummet.

 

US Senators call to postpone USMCA

US Senators sent a letter to the US Trade Representative Robert Lighthizer requesting the implementation of the USMCA trade treaty to be postponed, amid the current pandemic. “We urge you to reconsider the proposal that the USMCA entering into force on June 1, particularly before the major public health crisis and supply chain disruptions caused by COVID-19,” senators warned in the letter.

 

Querétaro Gov test positive

Querétaro Gov. Francisco Domínguez reported that he has tested positive for COVID-19. “This weekend I started with symptoms compatible with COVID-19, so I went to the public health medical service to do the corresponding test. A few moments ago, they confirmed a positive result,” he said. In his Twitter account, Domínguez stressed that his health is stable saying that: “I will stay at home during the period of isolation”. Domínguez is the third governor to test positive for the virus in three straight days.

 

Michoacan will shield borders

Michoacan Gov. Silvano Aureoles announced a “shield” will be implemented along the borders with neighboring states to monitor and follow up on suspected COVID-19 cases. The installation of sanitary filters at highway entrances with Colima, State of Mexico, Jalisco, Guanajuato, Queretaro and Guerrero is included in the plan. “The Michoacan Police, the National Guard, the Army and the Navy will join the operation,” Gov. Aureoles said.

 

Tabasco officer tests positive

Tabasco Health Minister Silvia Roldán has reported that she tested positive for COVID-19.The official's results were revealed after Tabasco Gov. Adán Augusto López was also diagnosed with the virus. Silvia Roldán is asymptomatic, and both her and her relatives are  isolated at her home. Social Encounter Party (PES) representative María de Jesús Rosete also tested positive for COVID-19.

 

Ricardo Guzman Ricardo Guzman Editor