LatinNews Regional Monitor: Mexico - 11 March 2020

* Carlos Salazar Lomelín, the president of Mexico’s Consejo Coordinador Empresarial (CCE), a private sector lobby, has called on the federal government led by President Andrés Manuel López Obrador to take short- and long-term measures to buffer the country’s economy. In an interview with Imagen Radio, Salazar Lomelín said that the country finds itself on the brink of a “perfect storm” where the economy is concerned, following the coronavirus (Covid-19)-triggered ‘Black Monday’ on 9 March, which sent global financial markets, emerging market currencies and the price of oil plunging. The Mexican peso and stock market (BMV) were by no means immune to this downwards spiral, but López Obrador has minimised the likely impact on the national economy. Salazar Lomelín spoke of the need to reduce public spending and launch a national public infrastructure plan as the only way to reactivate the economy. “The outlook is not in the least encouraging”, he warned.       

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