translated from Spanish: Global oil crash crisis will hit but we can face it: AMLO

President Andrés Manuel López Obrador accepted that the global crisis over the fall of oil will affect Mexico, but that there is the resources to deal with it and succeed.
“I want to give the assurance, the assurance that we Mexicans will be able to face this crisis. What did you base my optimism on? in the strength of our country, of our people,” the representative said at his morning conference on Tuesday.
He added that there were sufficient material resources to deal with the crisis, because resources were saved by not allowing corruption and having an austere government without frills or extravagance.
He also said that the country has sufficient reserves and that government spending will be further adjusted.
He noted that in the face of the fall in the price of oil, on Monday there was a production of 800 thousand barrels, half of the 700 thousand million that are processed normally.
He added that, to reduce production, the valves of the newer wells can be closed, but not the older ones because of the pressure they have.
He announced that on Thursday the secretaries of the Treasury, Energy and Pemex will present the energy sector’s plan in the face of the global crisis over falling oil prices.
This message comes after this Monday the value of the Mexican mix fell to -2.37 dollars per barrel a drop of 116%.
This is amid the economic impact of the COVID-19 pandemic and an unprecedented and downward day in the value of the mix internationally.
Coverage with social programs
At the same conference, the president sent a message to the povertyy population, saying that there is no need to fear the economic crisis because his government will give resources to ensure the basics.
He said its social programs, both permanent and emerging, will cover 70% of the population.
He stressed that the poorest people will be cared for first and that they will be provided with food, health and education.
At the start of phase 3 he reiterated his call to stay at home and to respond to the requests of the health authorities to prevent the increase in contagion in the country.
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Original source in Spanish