March 25, 2019 |
Mexico's Finance Minister Carlos Urzúa has said the government could use part of a budget surplus fund to help the state-owned oil company Pemex shore up its finances, according to press reports.
Under the plan, the government could turn the Fondo de Estabilización de los Ingresos Presupuestarios (FEIP) into a counter-cyclical fund and use money from the fund to help Pemex refinance $6.6bn in debt this year, Urzúa was quoted as saying at a banking conference in Acapulco.
Urzúa and other ministry
Government says it could use a budget surplus to help the state-owned oil company pay down $6.6bn in debt this year