Mexico’s Death Toll Reaches 296

The Ministry of Health reported 23 new deaths in 24 hours from COVID-19, bringing the total to 296 in the country; also there are 4,661 confirmed cases, 442 more than yesterday. At the daily briefing, Director of Epidemiology José Luis Alomía reported that the states with the highest number of positive cases are Mexico City with 1,328, State of Mexico with 523 and Baja California with 335.

During yesterday’s report, new features in the Quedate en Casa initiative were presented. Courses, a contact directory, a mental health section, a children's section, space for health personnel, and a section for older adults people with disabilities are among those included in the main web page designed to offer information during the pandemic. The Contigo a la Distancia application, created by the Ministry of Culture, was added to the list. Users can find links to several museums, archaeological sites, films, books, concerts, conferences and documentaries. “Everything to keep people at home,” according to Alomía.

As of Sunday, April 12

442         new cases (from yesterday)

4,611     confirmed cases nationwide

8,697     under investigation

296         deaths

Agreement with private hospitals

President Andrés Manuel López Obrador announced that he reached an agreement with two private hospital associations to have 3,300 of their beds available for a month for COVID-19 patients. In a live broadcast on YouTube the president stated that the purpose is to avoid saturation of the public health system and guarantee specialized care. He explained that hospitals “will charge the minimum” to the federal government, “so they will not obtain profits or utilities”. ABC, Ángeles, Medica Sur, Grupo Torre Médica, San Javier and Dalinde are included in the program. The full list of hospitals will be disclosed to tomorrow’s daily briefing.

World Bank expects 6 percent drop for Mexico

The COVID-19 crisis will cause a drop in the Latin America and the Caribbean GDP of 4.6 percent this year, with the most pronounced declines in Ecuador and Mexico, which will see their economies contract by 6 percent, according to World Bank new forecast. “The GDP of the Latin American and Caribbean region (excluding Venezuela) is projected to fall 4.6 percent in 2020. A growth return of 2.6 percent is expected by 2021,” said the bank’s Chief Economist for the region Martín Rama. Argentina and Brazil, with expected contractions of 5 percent this year, are next in the worst performers list.

Jaime Ruiz Sacristán dies

President of the Board of the Mexican Stock Exchange (BMV) Jaime Ruiz Sacristán died yesterday. “It is with deep sadness that we report that Lic. Jaime Ruiz Sacristán, chairman of its board of directors, passed away today. Directors and staff send our condolences to his family and friends: we regret this sensitive loss. Rest in Peace,” BMV reported in a statement. The 70-year-old businessman tested positive to COVID-19 on March 13 after a trip to Vail, Colorado on a private jet where he traveled with Inbursa Director José Kuri, who also has tested positive for the disease.

OPEC and allies reach agreement 

OPEC countries and their allies agreed to cut 9.7 million barrels per day to stabilize prices in the oil market. Mexico's Secretary of Energy Rocío Nahle confirmed the agreement and thanked the countries for their support in today's extraordinary meeting. “Mexico thanks all the support of the OPEC countries in the extraordinary meeting held today,” Nahle said through her Twitter account. After being the only country that rejected the initial proposal, Mexico finally joined in the agreement thanks to the US offering of additional 250,000 barrels per day cut, which will be included in Mexico’s reduction goal.

Formal employment plunges

Formal employment in Mexico plummeted in March registering a loss of 130,593 jobs, IMSS has reported. This is the worst result for March since 1995, when 193,301 jobs were lost in the midst of the economic crisis of that year. In a press release IMSS stated that “as a consequence of the effects derived from the health emergency, in March there was a monthly decrease of 130,593 positions, equivalent to a monthly rate of -0.6 percent.” Job creation in the first quarter of 2020 reached 61,501 new positions, an amount that is the lowest observed for the same period since 2009.