March 20, 2020
1. First death reported by Covid-19 in Mexico
The Secretary of Health confirmed the first death in Mexico from Covid-19. The fatality, a 41-year-old man, had diabetes and started having symptoms on March 9th. Authorities also confirmed that the men attended a massive concert. Latest reports investigate a second death that could be related to the virus.
On the other hand, the General Health Council, highest decision-making body in the health sector, had an extraordinary session on the 19th, in which the coronavirus pandemic was declared as a serious illness of priority attention. According to the daily report of the Secretary of Health, so far in Mexico, there have been 164 confirmed cases of people infected with the coronavirus.
2. Mexico and the United States present a joint initiative to combat Covid-19
After several days of negotiations, the Secretary of Foreign Relations of Mexico, Marcelo Ebrard Casaubón, announced the joint initiative of Mexico and the United States to combat the Covid-19 pandemic.
The governments of the United States and Mexico recognized as essential trips that have to do with the transfer of food, fuel, medical care, and medical supplies, so they will not have obstacles at the border, while non-essential trips, such as tourist activities, will be temporarily restricted. The joint initiative will take effect on Saturday, March 21st and have an initial validity of 30 days.
3. Businessmen remain without vote in the National Council for the Promotion of Investment
The congressional majority party, MORENA, discussed and approved reforms to the General Law on Institutions and Electoral Processes to regulate the consecutive reelection of legislators. The initiative was sent to the Senate for discussion and eventual approval.
Even though the consecutive reelection of legislators has been under discussion since the 2014 electoral reform, the majority party was criticized for approving the regulation in the absence of opposition parties. Among the approved changes include the possibility of re-election for one additional term for Senators, and three additional terms for Deputies, as well as the fact that the separation from office will not be necessary to compete again for it.
4. Businessmen remain without vote in the National Council for the Promotion of Investment
The Legal Counsel of the Presidency of the Republic sent to the National Commission for Regulatory Improvement a draft amendment to the recently created National Council for the Promotion of Investment, Employment and Economic Growth, which implies that representatives of the private, academic and social sector can only participate with the invitation of the body’s president, Alfonso Romo, and will be without a vote in the council’s decisions.
The National Council for the Promotion of Investment, Employment and Economic Growth, created by the present administration, is an instance of coordination between the Federal Executive, economic sectors and the social sector, chaired by Alfonso Romo, Head of the Office of Presidency; with the aim of attracting investment to the country to promote economic growth.
El Sol de México: IP se queda sin voto en Consejo de Inversión
5. Health emergency hits Mexican peso
Due to the Covid-19 pandemic, global economic activity has been affected. In the exchange market, the price of the U.S. dollar closed at up to MXN $24, which represents a historic high.
The oil market has also been affected due to the price war; the Mexican mix crude oil fell 22.36% on Tuesday, trading at USD $18.78 per barrel, its lowest level in 18 years..