The economy and the historical fall of Texas crude oil by COVID-19 worry America



The economy, one of the major concerns since the eruption of the coronavirus, on Monday became more relevant in America due to the growing calls from governments to find solutions and generate measures and, especially, due to the collapse of 305% of Texas intermediate oil ( WTI), which for the first time closed at negative values ​​(-37.63 dollars) due to the drop in demand for crude oil due to the pandemic.

A value on the New York Mercantile Exchange (Nymex) that refers to the futures contracts of the WTI for delivery in May, which collapsed $ 55.90 compared to Friday and that luckily from tomorrow will give way to futures of June, which today is at $ 20.43 with a much higher volume of demand than in May.

However, investors do not show any optimism in the short term, waiting for a reaction in the face of June, when they are confident that the economy will revive and crude needs will increase.

A concern that attracted all the reflectors but that is only one more example of that, in addition to seeking a way out of a health crisis that so far leaves at least 893,119 cases and 42,686 deaths in America, according to the most recent data from the World Organization of Health (WHO), the authorities must find solutions so as not to allow the local and regional economies together to collapse.

For this reason, the Ibero-American Secretary General, Rebeca Grynspan, said on Monday that it is “essential” that Latin American countries access international financing under “flexible”, “soft” and “immediate” conditions to combat the effects of the coronavirus.

ADJUSTING FINANCIAL PLANS

Argentina, which has been in recession for two years with high levels of inflation and poverty, the economic concern grows day by day, today presented an expansion of the business assistance plan announced at the beginning of the month, which foresees, among other aspects, the payment of part of the salary of workers in companies affected by the pandemic, a program to which 75% of companies in the country have signed up.

In the US, more than 50% of small businesses have less than 15 days of liquidity to deal with the crisis and only 40% have more than three weeks of financial cushion, according to a report by JPMorgan.

Given these perspectives, the White House and Congress are negotiating an agreement to approve a new package of $ 450 billion in aid to companies with less than 500 jobs affected by the coronavirus, which also seeks to allocate more funds to hospitals and medical tests (topic turned into key edge of the discussion), that could be voted this Wednesday by the Lower House.

And if the situation is worrisome in this type of job, it is worse in the informal sector, which is why there are initiatives such as that of the Union of Sex Workers of Colombia (Sitrasexco), which brought markets to fifty women in an area of tolerance of downtown Bogotá facing a dramatic shortage of income from the quarantine, extended this Monday until May 11.

PROTECTION OF BORDERS AND THE SANITARY SYSTEM

Despite all this, the high priority continues to be to contain the pandemic, which is why measures such as the extension of a mutual agreement between the US, Mexico and Canada to close the common borders for another 30 days were seen today, with the first of these countries as the global epicenter of the disease with 761,964 infections and 35,314, according to the unofficial count by Johns Hopkins University.

Costa Rica also reported that the closure of borders to foreigners will last at least until May 15, the same as Panama will do for 30 days starting next Wednesday, while San Salvador increased mobility controls with a “sanitary cord “for 48 hours in the Historic Center.

And the Corferias de Bogotá fairground was activated as a Transitory Hospital Center, with a capacity of up to 2,000 beds to alleviate the situation of clinics and hospitals in the Colombian capital.

Measures that seek to curb infections and a collapse of health systems, something that worries Peru, as President Martín Vizcarra acknowledged, after the number of patients in intensive care units doubled, reaching 385 for 525 beds available Nacional level. “These weeks are the most difficult of the disease,” said the president.

DISCARD QUARANTINE

An attitude that, however, is not followed unanimously at the regional level, as the head of the Government of Mexico City, Claudia Sheinbaum, made it clear on Monday, although she called on citizens to continue with preventive measures such as staying in At home, he ruled out imposing a “curfew” unlike the states of Michoacán and Jalisco, which today will begin total isolation measures.

In Nicaragua, classes in public schools, as well as in state universities, resumed after an extended vacation after Easter, in a day in which the majority of students had no means of protection, and where they did not no emergency or official restriction whatsoever has been decreed for entry or mobility into its territory.

For its part, Paraguay announced that it is working on a schedule to relax the restrictions imposed since the beginning of March, although without established dates and with the population preparing “in the COVID way of living.”

WOMEN AND BEACHES, POPULATION AT RISK

Amid the pandemic, some sectors of the population are being affected more, as is the case with women in Brazil, where the numbers of domestic violence have increased by 431% since the social confinement began. In 67% of the cases the mistreatment was suffered by the female sex, against 37% of the men.

Another group that continues to struggle with the consequences of the coronavirus is the one who was stranded abroad, as is the case with some 1,600 Bolivians who have been in the Chilean cities of Iquique and Antofagasta for weeks waiting to cross the border.

Bolivia’s interim foreign minister, Karen Longaric, and Chile’s foreign minister, Teodoro Ribera, “managed shelters, medical assistance and humanitarian aid.”

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