LatinNews Daily - 12 March 2021

In brief: Mexico’s finance minister optimistic on growth

* Mexico’s finance minister Arturo Herrera has said that 2021 will be “much better” with regard to the economy than previously calculated. Speaking at an annual event for the banking association (ABM) he said that analysts and experts were already raising their GDP growth forecasts above the 4.6% projected by the finance ministry. In its latest quarterly report, presented earlier this month, Mexico’s central bank (Banxico) revised up its 2021 GDP forecast to 4.8% from 3.3% previously. The same Banxico report found that the economy shrank by 8.2% in 2020 due to the impact of the coronavirus (Covid-19) pandemic. Herrera gave as grounds for his optimism the roll-out of vaccines against Covid-19, claiming that “we are entering a stage of exponential application [of the vaccines]”. His remarks follow the start of distribution of Chinese firm Sinovac’s vaccine on 6 March after significant delays to the vaccination programme.