LatinFinance - November/December 2017 - 30
MEXICO
EARTHQUAKES
The two earthquakes that shook Mexico in September are not expected
to unsettle the economy. Rather, a short-term surge in retail sales and the
inevitable rebuilding efforts could provide a boost. By Amy Guthrie
Down but not out
30 L ATINFINA NCE.COM - November/December 2017
Source: Reuters
T
he day after the earthquake,
25-year-old Cecilia Olvera stood in a
cordoned off section of a busy avenue in
downtown Mexico City, while her mother
retrieved clothes and other necessities from
their devastated first floor apartment.
Large vertical cracks traversed the
exterior of their nine-story building. Several
windows were broken. The building was
uninhabitable. It was also uninsured.
Olvera's family is staying in a borrowed
apartment in the hopes that their building
can be repaired in the coming months.
"Otherwise, it's a loss," she says.
Such losses have only begun to be calculated following the most-devastating
earthquake in the Mexican capital since the
1985 tremor that killed more than 10,000
people. More than 9,000 buildings are
estimated to have been damaged this time
around.
Mexico was struck by two deadly earthquakes last month. An 8.1-magnitude quake
on September 7 killed around 100 people
and leveled entire towns in the southern
states of Oaxaca and Chiapas. Then a
7.1-magnitude quake on September 19 killed
more than 300 people in Mexico City and
neighboring states.
Disruptions to economic activity in
HELPING HAND: Rescue workers and volunteers cleared rubble after a 7.1-magnitide earthquake
shook Mexico City in September
the capital are cause for national concern,
as Mexico City accounts for 16.8% of the
country's gross domestic product. The
impoverished states of Chiapas and Oaxaca
combined account for only 3.2% of GDP.
Yet analysts do not see the two earthquakes as a drag on Mexico's economic
activity. Rather, they point to a short-term
surge in retail sales as consumers stocked up
on shovels, canned goods and other emergency staples to help with relief efforts. And
http://www.LATINFINANCE.COM
Table of Contents for the Digital Edition of LatinFinance - November/December 2017
Contents
LatinFinance - November/December 2017 - Cover1
LatinFinance - November/December 2017 - Cover2
LatinFinance - November/December 2017 - Contents
LatinFinance - November/December 2017 - 2
LatinFinance - November/December 2017 - 3
LatinFinance - November/December 2017 - 4
LatinFinance - November/December 2017 - 5
LatinFinance - November/December 2017 - 6
LatinFinance - November/December 2017 - 7
LatinFinance - November/December 2017 - 8
LatinFinance - November/December 2017 - 9
LatinFinance - November/December 2017 - 10
LatinFinance - November/December 2017 - 11
LatinFinance - November/December 2017 - 12
LatinFinance - November/December 2017 - 13
LatinFinance - November/December 2017 - 14
LatinFinance - November/December 2017 - 15
LatinFinance - November/December 2017 - 16
LatinFinance - November/December 2017 - 17
LatinFinance - November/December 2017 - 18
LatinFinance - November/December 2017 - 19
LatinFinance - November/December 2017 - 20
LatinFinance - November/December 2017 - 21
LatinFinance - November/December 2017 - 22
LatinFinance - November/December 2017 - 23
LatinFinance - November/December 2017 - 24
LatinFinance - November/December 2017 - 25
LatinFinance - November/December 2017 - 26
LatinFinance - November/December 2017 - 27
LatinFinance - November/December 2017 - 28
LatinFinance - November/December 2017 - 29
LatinFinance - November/December 2017 - 30
LatinFinance - November/December 2017 - 31
LatinFinance - November/December 2017 - 32
LatinFinance - November/December 2017 - 33
LatinFinance - November/December 2017 - 34
LatinFinance - November/December 2017 - 35
LatinFinance - November/December 2017 - 36
LatinFinance - November/December 2017 - 37
LatinFinance - November/December 2017 - 38
LatinFinance - November/December 2017 - 39
LatinFinance - November/December 2017 - 40
LatinFinance - November/December 2017 - 41
LatinFinance - November/December 2017 - 42
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LatinFinance - November/December 2017 - Cover3
LatinFinance - November/December 2017 - Cover4
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