Mexican president: Coronavirus bailout will help poor, not major companies

Mexican president: Coronavirus bailout will help poor, not major companies
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Mexican President Andrés Manuel López Obrador on Monday said the country’s coronavirus stimulus package will focus on helping the poor as opposed to major corporations.

“If we have to rescue someone, who do we have to rescue? The poor,” he said during a press conference, adding that more details of the plan would be revealed on Tuesday.

“No more rescues in the style of the neo-liberal period, that provided for banks, big companies. They shouldn’t even be thinking that there will be tax forgiveness or other mechanisms that were used before,” he added.


López Obrador won the 2018 Mexican election running on a populist message.

On Monday, 367 cases of coronavirus were reported in Mexico, up from 316 the day before, with a total of four deaths in the country.

Though local governments have taken upon themselves to cancel classes and public health officials have launched educational campaigns, little has been done to assure the Mexican workforce that if they miss days they’ll still be compensated.

López Obrador has yet to take drastic measures to enforce self-isolation and has even encouraged citizens to continue commerce as normal. 


His handling of the pandemic has drawn international criticism, including from the president of El Salvador, Nayib Bukele. 

In El Salvador, the federal government issued a 30-day countrywide quarantine and took measures to freeze rent payments and provide stimulus checks to citizens. 

"I’m begging [Mexico] to take drastic and overwhelming measures amid this pandemic, Mexico is a very big country and so should be its responsibility," Bukele tweeted.