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Weekly Report - 20 August 2020 (WR-20-33)

TRACKING TRENDS

MEXICO | Economic recovery. The Asociación de Bancos de México (ABM) expressed “enormous concern on 19 August at the lack of an accord between public and private sectors to reactivate the national economy in the face of the coronavirus crisis. “We all have to participate in the reactivation of the economy and up until this point we have not seen this [broad] accord to work together to expedite our emergence from this severe economic crisis,” the president of the ABM, Luis Niño de Rivera, said in a press conference, adding that there was no sign of consumption or investment picking up. The economy contracted by 18.9% year-on-year in the second quarter, with 1.1m formal jobs disappearing, the Instituto Mexicano del Seguro Social (IMSS) reported.

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