LatinNews Regional Monitor: Mexico - 05 May 2020

* International credit ratings agency Standard & Poor’s (S&P) has warned that Mexico’s GDP is predicted to contract by 6.7% in 2020, expected to be one of the largest contractions in Latin America, and higher than the 5.2% average contraction forecast for the six biggest Latin American economies (Argentina, Brazil, Chile, Colombia, Mexico, and Peru). In its remarks regarding Mexico, S&P highlighted “pre-existing economic weakness, delays in [corona] virus containment measures that risk prolonging the [economic] crisis, and limited economic policy responses that likely mean it will take longer to repair the damage done to the labour market and investment”.

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