Official information from authorities

Information Federal Gov.

(March 27, 2020)

Secretary of Labor and Social Welfare

- In conjunction with PROFEDET, the STyPS published a Guide with frequently asked questions for employers and workers regarding the COVID19 pandemic. COVID19 pandemic. Find the Guide here: https://bit.ly/33O7BIo

- Agreement for the suspension of legal terms and deadlines of the STyPS as a preventive action due to the contingency. This Agreement mentions the declaration of non-working days and the suspension of all administrative processes carried out by the In this Agreement, mention is made of the declaration of non-working days and the suspension of all administrative processes carried out by the Secretary. https://bit.ly/2xoYq5b

INFONAVIT

- Yesterday, INFONAVIT announced the following measures to support workers in the face of the COVID19 pandemic 1) Infonavit will have up to 7,326 million pesos available to universally apply unemployment insurance to cover the payments of up to three months of up to three months of payments for those borrowers who lose their employment relationship. This will allow them to keep their family assets. family assets. Members will not have to cover any associated co-payments and this benefit may be requested as of April 15, to be paid on the following dates April 15, to be paid on the monthly payments of May, June and July.

2) Deferrals will be granted in the payment of the monthly mortgage payment, principal and interest, with freezing of the balance, for any borrower who, due to the current situation, has affected his continuity of employment or income, and requests it to the Institute. 2) Deferrals will be granted in the payment of the monthly mortgage payment, principal and interest, with freezing of the balance, for any borrower who, due to the economic situation, has affected his continuity of employment or income, and requests the Institute to do so. Under this solution, an initial under this solution, an initial period of three months will be granted to resume mortgage payments, a period that may be extended for up to three more months, i.e., there will be up to six months of freezing of the balance. This means that there will be up to 6 months of extension to continue with the amortization of the financing, without charging interest.

3) For workers whose companies declare a technical stoppage, Infonavit will apply benefits of at least 25% of the payment factor with which their monthly payment is calculated via payroll. factor with which their monthly payment is calculated via payroll and may be applied for a period of no more than 12 months, depending on the conditions of the credit. depending on the conditions of the loan. In addition, Infonavit may authorize a temporary extension for up to 3 renewable months on these facilities, which must be requested by the applicant. This must be requested by the employee at the Regional Office or through the means determined by the Institute.

1) In order to avoid slowing down the supply of housing and mortgage placement, the Institute will expedite the procedures for the verification of construction work and the signing of loans, which will help to rapidly generate the supply of real estate and lessen the effects of a possible crisis. and signing of loans, which will help to quickly generate the supply of real estate and lessen the effects of the possible economic crisis. economic crisis. Find the official announcement here: https://bit.ly/2UojVfB

Secretary of Health

- Agreement for the suspension of deadlines and legal terms during the period from March 26 to April 19, 2020, in the practice of actions and diligences in the administrative procedures that take place before the Ministry of Health, its administrative units and deconcentrated administrative administrative units and deconcentrated administrative bodies, taking this period as non-working days. Find here the Agreement: https://bit.ly/2xvHv0I

Number of cases

Economic Situation

Financial indicators

Main economic news

(March 27, 2020)

- S&P cuts ratings for Mexico and Petróleos Mexicanos. They foresee a pronounced impact of the epidemic and lower oil prices; poor performance reflects, in part, the government's performance reflects, in part, the government's inability to improve private sector confidence (El Economista). private sector confidence (El Economista). https://bit.ly/2vTkCUJ

- Global foreign investment to fall to 40% due to COVID-19, UNCTAD estimates UNCTAD. The United Nations Conference on Trade and Development adjusted its estimate due to the rapid global spread of the pandemic and the implementation of mitigating the implementation of mitigation measures and blockades in several countries (El Financiero). Financiero). https://bit.ly/2yb6ZRr

- Mexico's GDP could plunge by up to 7% this year: JP Morgan. At an analysis, distributed among the investment bank's clients, JP Morgan states that "overlapping that "overlapping shocks will be amplified in economies that are less prepared for the pandemic prepared to deal with the pandemic and whose institutional frameworks and rule of law are weaker. rule of law are weaker" (El Economista). https://bit.ly/39k3pl3

World News

- The United States becomes the new epicenter of the COVID-19 pandemic. Cases of coronavirus are increasing rapidly in the United States, but Italy and Spain continue to experience the most dramatic situations. United States, but Italy and Spain continue to experience the most dramatic situations (El País). https://bit.ly/33Q2xTW

- Boris Johnson, Prime Minister of the United Kingdom, tested positive for COVID-19. The president is isolated in his official residence, at 10 Downing St. (El Financiero) https://bit.ly/3bwaq3D

- IDB provides $12 billion dollars to address the coronavirus crisis. Governments may request the redirection of resources from the portfolio of projects already underway. portfolio of projects already under execution (El Economista). https://bit.ly/33Q2bwA