Coronavirus. By Covid-19, AMLO agrees with IP to protect wages; they go for support to Smes

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The president Andrés Manuel López Obrador and the Private Initiative agreed to a series of actions to revive the economy due to the crisis generated by the pandemic coronavirus and the fall in oil prices, among which is to protect the employment and wages of workers.

This –they said – without resorting to borrowing, and also without resorting to tax exemptions.

After more than four hours of meeting in National Palace, the president of the Business Coordinating Council, Carlos Salazar, said that one of the agreements which will announce the president next Sunday, is that by means of National Financial you will support with credits for Smes and can maintain employment.

Assured that the small companies have problems of credit, private banking give you a solution.

“The Association of Bankers of Mexico will evaluate during today in the evening and morning how to apply those safeguards that it will have by the side of Nafinsa, to see in what conditions and up to where you can do”.

He pointed out that they would have liked to fix the three months (April, may, and June), but the convention was to go slowly, “would seem to be that April we will have it resolved.”

“There are other things that you’re going to announce Sunday that we asked the President that he wants to announce and the Sunday he will announce everything that can be support programs additional for a fast way out of this situation.”

– How fiscal commitments?

-“In the month of April, no, but it’s going to evaluate if for the month of may or June, would that make any situation of a tax burden,” he said.

Francisco Cervantes, leader of the Concamín, said that they requested the use of debt, but said that the president was very firm in pointing out that you will not use the deficit.

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