Mexico Climbs to Sixth Place in Deaths

The Ministry of Health reported 741 new deaths from COVID-19, bringing the total to 28,010. There are 231,770 accumulated cases, after 5,681 new more confirmations were reported.

During today’s briefing Director of Epidemiology José Luis Alomía reported that a total of 595,917 people that have been tested, of which 289,142 were negative. The official noted that 138,319 people have recovered from the virus representing 60 percent of the total accumulated cases.

After today’s results, Mexico passed Spain in the number of deaths to come sixth in the list of countries with the highest number of deaths from the virus, according to Johns Hopkins University. Likewise, Mexico also passed Iran in confirmed cases to become the tenth country most affected by the pandemic.

As of Wednesday, July 1

5,681     new cases (from yesterday)

231,770 confirmed cases nationwide

75,005   under investigation

28,510   deaths

Impact on markets (19.30 hrs)

US Dollar              MX$22.79            (-0.72%)

BMV IPC               37,619.77             (-0.26%)

Dow Jones          25,734.97             (-0.30%)

AMLO insists on recovery plan

To overcome the COVID-19 crisis President Andrés Manuel López Obrador said that he will push for social programs to reach 70 percent of families in the country by the end of this year. “Those from the pyramid base will receive more benefits,” he said during a message commemorating the second anniversary of his electoral victory. The president said that COVID-19 precipitated the fall of the neoliberal model and highlighted that the USMCA trade treaty, effective from today, will be key to boost productive activities and create new jobs, since Mexico neighbors the strongest economy in the world.

Need for investment, says Herrera

The USMCA trade treaty only represents a basis for attracting new investments, so the right conditions must be set to secure those, Ministry of Finance (SHCP) Arturo Herrera said. “We have to look for, and to create the right conditions to generate new investments in our country. Do it bilaterally and hand in hand with the private sector,” Herrera said in a video message recorded from his home, where he is recovering after testing positive for COVID-19. Herrera said that USMCA will relaunch the Mexican economy.

USMCA, opportunity for Mexico

The Mexican economy has a great opportunity to achieve a significant recovery taking advantage of the USMCA trade treaty, said the World Bank head David Malpass. “It will be very important what Mexico decides to do with the great benefit of free trade with the United States, which in any scenario, will probably be one of the greatest engines of growth,” Malpass said in a webinar.

Orange closer to red, warns Sheinbaum

After the reopening of restaurants in Mexico City in the orange epidemiological traffic light, the city’s Head of the Government Claudia Sheinbaum warned people to keep abiding strict measures since the orange light is closer to full lockdown measures than it is to full reopening. “Orange is closer to red than the green light. This means we are on alert, that COVID-19 is still a disease among us and that the only way to protect ourselves is by following the rules properly,” she said.

Remittances rise 18.1 percent in May

During May, remittances sent to Mexico increased 18.1 percent compared to the previous month totaling US$3.37 billion, according to Banxico. This figure exceeded US$2.88 billion dollars sent by migrants in April. At an annual rate, remittances have increased 3 percent.

Vaccine moves forward

US’ Pfizer and Germany´s BioNTech announced that they had obtained positive results in initial human trials with the COVID-19 vaccine in which they are working. A study conducted on 45 adults aged between 18 and 55 years gave promising results both companies stated.