Weekly Report - 25 June 2009 (WR-09-25)

On 24 June the Organization for Economic Cooperation and Development (OECD) forecast that Mexico's economy would contract by 8% in 2009. This is by far the gloomiest forecast by any major international organisation for the economy. The OECD is headed by Angel Gurrí­a, a former Mexican foreign minister and finance minister, who will know the effect of the forecast on the mid-term congressional elections, due on 5 July.