David Cervantes Arenillas
David Cervantes is Senior Economist at BBVA in Mexico. He is a specialist in impact evaluation, education, financial education, migration, remittances, and labor markets.
BS Degree and PhD in Economics by Universidad Nacional Autónoma de México and Master Degree in Demography by El Colegio de México.
His previous working background includes; deputy director of Evaluation at the BBVA Bancomer Financial Education Program and in the National Institute of Evaluation for Education (Instituto Nacional de Evaluación para la Educación). He has participated in research and impact evaluation projects of national and international organizations like the World Bank and the International Labor Organization and collaborated as a consultant of federal and local governmental programs in Mexico.
He has been a professor of Statistics and Econometrics at the Universidad Nacional Autónoma de México and Universidad Anáhuac México Sur.
The road to recovery will be long and bumpy. Mexico needs countercyclical economic policies and to regain investor confidence to better address the challenging environment.
The COVID-19 pandemic has resulted in a loss of more than 1 million formal jobs in just three months. Given the uncertainty about the economic recovery and the number of closed and inactive companies, a further deepening of job losses is expected.
Measures to support employment considering the paralysis and economic slowdown have been insufficient to halt the destruction of formal jobs, resulting in an unprecedented contraction in the formal employment. There is a high risk that job destruction became structural as more companies close permanently.