Mexico will increase social spending but no business bailouts for COVID-19

April 5, 2020

Mexican President Andrés Manuel López Obrador said Sunday there will be no huge economic stimulus program as the country faces the threat of coronavirus-induced crisis almost certainly unlike any it has seen in the past century.

Instead, the administration will expand social programs, continue to prop up the heavily indebted state-owned oil company, deepen the government’s austerity campaign and do everything possible to avoid taking on more debt.

“There is a lesson that we have learned well and that we don’t forget,” López Obrador said to an empty . . .

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