The National Hurricane Center initiated an advisory on Tropical Depression Three.
The tropical depression has formed in the Bay of Campeche.
The Tropical Depression has sustained winds of 30 mph and is moving west-northwest at 7 mph.
The depression is 50 miles west-southwest of Campeche Mexico.
Forecasters said the depression is expected to bring heavy rainfall to portions of southern Mexico, Guatemala, Honduras, and El Salvador.
The amount of rainfall could cause life-threatening flash flooding and mudslides, according to NHC.
The NHC said tropical storm conditions are expected along the coast of Mexico where a tropical storm warning is in effect.
The system is projected to move northward across the Gulf of Mexico later this week.
The NHC said a tropical cyclone formation is not expected during the next five days.