LatAmOil: AMLO pledges to help Pemex with bond payments

Mexico’s President Andres Manuel Lopez Obrador has indicated that his government is responding positively to requests from the national oil company (NOC) Pemex for assistance in covering financial obligations to holders of its securities.

Speaking to journalists on January 26, he said Mexico City had formulated a plan to ensure that Pemex could pay its debt amortisations in 2023. He added that the government fully supports the state-run oil company and stressed that all of the NOC’s payments to date had been made on time.

Pemex’s next round of payments is due at the end of the first quarter of 2023 and will amount to $5.5-6.0bn. According to Lopez Obrador, Mexico’s government is committed to helping Pemex meet these and other bond repayments deadlines this year. This aid will take the form of reductions in tax rates, as well as other measures, he said.