Mexico's Plan for Pemex Debt Refinancing Includes State Help [Financial Post (Toronto, Ontario, Canada)]
Banco Bilbao Vizcaya Argentaria S.A. (BBVA)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Mexico's government will continue to provide financial support to its debt-ridden oil company while it refinances its debt, said the top official in charge of Mexico's public finances. Recent support for Petroleos Mexicanos has shown that the state should continue to have a direct role in helping it reduce its debt, said Finance Minister Rogelio Ramirez de la O, and the company needs to make better investment decisions and stick to austerity measures. The government's providing money to Pemex out of the federal budget was the start of a broader process, he said Tuesday. Article content Article content “The balance sheet of the federal government will be more dedicated to attending the needs of Pemex,” Ramirez de la O said at a Banco Bilbao Vizcaya Argentaria event in Mexico City. “The next step includes the need to focus more on the refinancing
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