Mexico Is Refinancing Pemex Debt After Getting IMF Reserves
- AMLO said he couldn’t provide details about an ongoing process
- President has said he wants to use IMF’s $12 billion for debt
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Mexico has begun a process of refinancing state-owned Petroleos Mexicanos’s debt, after the nation received a transfer of about $12 billion from the International Monetary Fund.
President Andres Manuel Lopez Obrador said Monday that refinancing had begun, and restated that he wants to use newly issued IMF reserves to pay debt, but that he couldn’t provide further details. His spokesman Jesus Ramirez confirmed to Bloomberg News that Pemex’s debt is being refinanced.