Mexico

Mexico’s Pemex relies on handouts as election looms

  • AMLO's recent tax credit adds to US$97bn support since 2018, easing Pemex's financial strain

  • Declining production, high debt and uncertain future support as the June election approaches puts Pemex in a tough spot

  • Spread over sovereign narrowed but is way above regional players in the same sector

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February 21st, 2024
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