LatinNews Daily - 20 August 2020

* The Mexican banking organisation (ABM) has expressed concern over the lack of agreement between public and private sectors to reactivate the Mexican economy in the face to the coronavirus (Covid-19) pandemic. ABM president, Luis Niño de Rivera, argued that economic recovery will be difficult until consumption and investment are revived. He said there was, however, little sign of this, citing as cause for concern the fact that some 25m people are unemployed, underemployed, or economically inactive in the country. As regards investment, Niño de Rivera said that there are no signs from the government led by President Andrés Manuel López Obrador of any presentation of a national infrastructure plan which was going to be launched at the start of next month. The latest figures from the United Nations Economic Commission for Latin America & the Caribbean forecast Mexico’s economy will contract 9% in 2020.

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