Mexico's deputy finance minister said on Thursday the government was consid...
ACAPULCO, Mexico - Mexico’s deputy finance minister said on Thursday the government was considering using part of a $15.4 billion public income stabilization fund to pay some debt obligations for heavily leveraged state oil company Pemex.
Grappling with Pemex’s financial health has been a key challenge for President Andres Manuel Lopez Obrador, who took office in December. The entity holds roughly $106 billion in financial debt, the highest amount of any state oil firm in Latin America. Pemex has some $16 billion of debt payments due by the end of next year. Herrera said Mexico’s fund has a generous margin that could be put to helping Pemex.
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