The Mexican government will continue to support Pemex to pay its debt amortizations, President Andrés Manuel López Obrador announced this morning. The support of the Ministry of Finance for the state company had been in suspense in recent weeks after it emerged that the administration wanted the company to take charge of these payments in the coming months.
“We have been supporting Pemex, we will continue to do so because it is the rescue of the most important public company in our country (…) All previous debt maturities are being paid on time and always with the support of the Ministry of Finance “said the president this morning. “We do not leave Pemex without support.”
Analysts already discounted the risk that the federal government would remove financial support for the oil company, which has a debt of more than 105 billion dollars. While the Pemex administration discussed a continuity of public resources, the market already assumed that the supports would continue.