Pessimism

An UNAM study says that Mexico's economy will shrink by 4.8 percent this year, and will shed close to a million jobs. It also predicts that the peso will close the year at 15.50 to the dollar, which actually seems like relatively good news, considering that from September to February, the peso dropped from about 10 to 15 to the dollar. I'm not sure if that estimate takes into account the peso-stabilizing credit line from the IMF.