March 26, 2019 |
Investors and bankers have reacted favorably to the news that Mexico's Pemex could receive $7bn from the government, but some are skeptical it will help lift the state-owned oil company out of debt.
"It helps the tone, but seeing actual disbursement would help even more," said a bond buyer in New York.
Finance Minister Carlos Urzúa said last week at a banking conference in Acapulco that the government could use some money from a MXN300bn ($15.8bn) stabilization fund to help the state-owned oil
Mexico's state-owned oil company could pay off its bonds and keep its loans with government help, source says