Coronavirus hits Mexico’s economy where it hurts most: Oil, tourism, remittances and trade

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Economists here are now predicting an economic collapse worse than the so-called “tequila crisis” of the 1990s, when inflation soared, poverty deepened and migration surged. One economic think tank warns of a downturn that . The International Monetary Fund expects GDP to contract by 6.6 percent, second in Latin America only to collapsing Venezuela. Bank of America predicts an 8 percent contraction.