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News Article

Positive Cases Will Grow in the Coming Days

By Ricardo Guzman | Tue, 04/28/2020 - 21:19

A number of the 11,220 cases under investigation will likely test positive for COVID-19 in the coming days, Epidemiology Director José Luis Alomía said on today’s special briefing. After reporting 135 more deaths in the last 24 hours to bring the total figure to 1,569, another 1,223 positive cases were added to bring the total positive case count to 16,752, Alomía said that there are still free beds in the National Health System despite the high occupancy rates in hospitals.

The number of confirmed active cases, that is those with symptoms in the last 14 days, increased to 5,329. Of the 77,005 patients studied, 49,033 have tested negative.

 

As of Tuesday, April 28

1,023     new cases (from yesterday)

16,752   confirmed cases nationwide

11,220   under investigation

1,569     deaths

 

Impact on markets (19.30 hrs)

US Dollar              MX$24.29            (-0.04%)

BMV IPC               35,830.82             (2.47%)

Dow Jones          24,101.55             (-0.13%)

 

CONCAMIN summoned by Ministry of Economy

The Ministry of Economy summoned Mexico’s industrialists  to work in teams for the reopening of activities in the productive sectors to attend to sanitary protocols. Industry and Commerce Deputy Minister Ernesto Acevedo said that after the operational paralysis of the industry, the challenge now is to achieve harmonization of production chains, which will require special-task teams by CONACIM and its associations. CONCAMIN head Francisco Cervantes reported that discussion tables will be set up shortly with the Ministry of Foreign Affairs (SRE) and the Ministry of Economy, to analyze protocols for a gradual return to work.

 

PAHO warns of a coming peak

Latin America is like Europe six weeks ago and no country in the region must relax monitoring and social distancing measures, the Pan American Health Organization (PAHO) Deputy Director Jarbas Barbosa said. “In Mexico, Brazil, Peru, Ecuador, Argentina and Chile we are still monitoring growth of cases and what can be expected for the next few weeks,” he warned at a briefing.  Barbosa also called on the Minister of Health and government in each country to strengthen the capacity of their hospitals and health services.

 

10 percent contraction for tourism

Mexico’s tourism GDP could contract 10 percent this year, which means losses of more than US$10 billion, the Association of Mexican Tourism Secretaries (ASETUR) has reported. “The group adjusted its previous forecast which already estimated a 3 percent drop, with a loss of US$2.4 billion,” said ASETUR head Luis Humberto Araiza.

 

Mexico’s GDP will contract 7 percent: Moody’s

Moody's warned that the limited response from the Mexican government to counter the economic impact of the COVID-19 pandemic will hinder a rapid recovery and could put the sovereign credit rating at risk.  After adjusting its growth estimations, the rating agency said that among the most powerful economies of the G-20 only Italy will have a greater contraction of 8.2 percent, while the UK will also report a 7 percent plunge.

 

Walmart thrives on quarantine sales

Walmart Mexico and Central America reported and MX$19.5 billion EBITDA for Q1, an increase of 15.7 percent over the same period last year, thanks to massive purchases to prepare for the home confinement. Sam’s was the group’s fastest growing chain, followed by Superama, Bodega Aurrerá and Walmart. According to the quarterly report, in Mexico electronic commerce represented 1.6 percent of the country's total sales.

 

Another flight from China

The Mexican Consulate in Shanghai reported that today the seventh flight with medical supplies bound to Mexico has taken off. The aircraft is carrying 57,600 protective masks and 100,000 goggles, which comply with COFEPRIS regulations. Foreign Affairs Minister (SRE) Marcelo Ebrard said that it is not possible to bring a single flight all the supplies purchased in China to face the pandemic, since they are being produced. The Mexico-China airlift is expected to have more flights.

 

Mexican oil at US$7.33

Mexican crude basket rose 11.91 percent on Tuesday, to US$7.33 per barrel, according to data from PEMEX, after a loss of 23.21 percent recorded on Monday. After today’s trading WTI closed down 3.44 percent at US$12.34 per barrel, while Brent rose 4.05 percent to US$20.8 per barrel.

Ricardo Guzman Ricardo Guzman Editor