Mexico willing to help Pemex with debt payments

Mexico willing to help Pemex with debt payments

Corporate & Sovereign Strategy Economy & Policy Bonds Debt Capital Markets Project & Infrastructure Finance Mexico

The Mexican government is willing to help state-owned oil company Pemex make debt payments when necessary, even though cash flow has improved with the recent rise in the price of oil, according to press reports. The government had previously promised to cover Pemex's debt payments through 2024, but the oil company had to pay €1 billion ($1.06 billion) in cash to redeem bonds in April after the finance ministry did not make capital contributions. "The finance ministry will always be behind Pemex'

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