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Mexico president urges firms to pay workers, avoid usury in coronavirus crisis

MEXICO CITY Mexico’s director on Wednesday curved the warmth on companies during the course of the coronavirus adversity, saying they ought to keep paying money on workforce or have to face masses mock, when claim of our financial management solutions expands among business and critical top leaders.

President Andres Manuel Lopez Obrador, that keeps woke fear among employers and alien embassies by providing foremost contracts by having stores to get looked at, pressed board members perform along with their “consciences” in paying staff.

Speaking at a regular morning news conference, the leftist Lopez Obrador said some leading companies have pledged to hold on to their workforces in the crisis.

“And, yes, there are others who are not performing certainly,” he told reporters, without naming anyone. “There’s still time to modify, because they will look bad. What’s the aspect in paying out … huge amounts of pesos on advertising and marketing if as we go through the disaster these people behaved selfishly, and in a usurious strategy?”

In a public health emergency, Mexican labor law allows firms to put staff on the minimum wage for a month.

Lopez Obrador said on Tuesday the same law also had a rule to mandate full payment of wages, and urged companies to do it out of solidarity.

“There’s no need to go to tribunals first-off, that is an exhortation, it would be good to be in deep trouble humanist motives,” he said.

The president says he will present a plan on Sunday to stimulate the economy. But so far he has pushed back against proposals from business lobbies to spend more money to cushion the blow of what economists expect to be a sharp recession.

Instead, Lopez Obrador has driven home a message that his government is ready to help the poor and small businesses – but will not stage the kind of “neo-liberal” bailouts he states his before directed for all those “on top”.

Business executives who might seem focused upon to use of description “neo-liberal”, and his tendency to demonize money, regard his rhetoric as reckless at a time the economy is already in recession and the peso has slumped to multiple record lows.

Mexico’s top business lobby was furious last month when Lopez Obrador encouraged a referendum to go ahead that has now put a more than one-billion-dollar investment by U.S. brewer Constellation Brands Inc <STZ.N> in jeopardy.

He also upset renewable-energy advocates on Saturday by slamming wind turbines in a remote area of Mexico as a “neo-liberal” blemish brought up of malfeasance, similar to how the man is getting ready to unveil a major energy decide on meant to lift the financial system.

Lopez Obrador’s financial solutions has given hostile statesman a chance to launch up-and-coming from his negative.

Enrique Alfaro, regulator of a given american country of Jalisco, said Wednesday government was also failing companies’ needs.

“Businesses are not asking for tax breaks,” he explained. “They literally want oxygen so they can play their part.”