Harsh realities: Mexico and covi

Even in rosier times, Andrés Manuel López Obrador could not keep the economy in good health.

• rosy : likely to be good or successful

Now, amid a pandemic, Mexico’s president must stop it from coming apart entirely.

Forecasters are expecting GDP to fall by up to 6% this year.

Tourism has already plummeted, car factories are shuttered and the border with the United States has been tightened.

• plummet：to drop steeply

The peso【比索（多个拉美国家和菲律宾货币单位）】 has lost a quarter of its value, hitting a record low against the dollar, as the price of oil, a crucial export, plummets.

A central-bank meeting scheduled for today was brought forward to last weekend, with a half-point cut in interest rates decreed, and the government has promised to pay the salaries of workers over 65 who stay at home.

A bigger stimulus【经济刺激方案】 looks elusive【难以达到的】, however.

So far Mexico has reported a low number of covid-19 infections, but more will surely come.

To limit the damage, Mr López Obrador must take bolder action.

Mar 26th 2020