Weekly Report - 04 June 2020 (WR-20-22)


MEXICO | Crisis? What crisis? The central bank Banco de México (Banxico) issued a bleak first quarter report on 27 May. Banxico predicted that the economy would contract by between 4.6% and 8.8% this year, the most severe decline since 1932, and that between 800,000 and 1.4m jobs would be lost. Not for the first time, President Andrés Manuel López Obrador took issue with Banxico’s forecasts, which he said he did not share, but stressed that he remained “respectful of Banxico’s autonomy”.

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