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LatinNews Daily - 05 January 2021

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In brief: Mexico’s López Obrador upbeat about economic recovery

* Mexico’s President Andrés Manuel López Obrador has said that he expects Mexico’s economy to continue to show signs of recovery in the first quarter of 2021. In his morning press briefing yesterday (4 January) President López Obrador said that despite analysts’ forecasts that the economy would shrink by 12%-15% in 2020, it looks to have fallen by only 8.9%. He said that the governor of Mexico’s central bank (Banxico) said that “there are signs of recovery in Mexico’s economy and we agree with this”. The latest (December 2020) forecast from the United Nations Economic Commission for Latin America & the Caribbean (Eclac) forecasts Mexico’s economy will shrink 9% in 2020 and grow 3.8% in 2021.