Mexico Tells Oil Giant Pemex ‘You’re on Your Own’ to Cover Debt Payments
- Pemex has cash flow to pay its amortizations: Finance chief
- If Pemex needs support, Mexico will step in to help: Ramirez
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Petroleos Mexicanos bonds tumbled to fresh lows as the state-owned oil giant prepares to resume paying its own debt maturities, halting a government policy of covering its amortizations.
Pemex has the cash flow to make its debt payments, Mexico Finance Minister Rogelio Ramirez de la O said at an event in Washington on Thursday, confirming earlier reports.