Pemex Gets Billions for Debt Payment in Mexico Draft Budget
- Budget allocation will help cover Pemex’s 2024 maturing debt
- The draft budget will be presented to Congress on Sept. 8
The Petroleos Mexicanos headquarters in Mexico City.
Photographer: Luis Antonio Rojas/BloombergThis article is for subscribers only.
The Mexican government’s draft budget for next year includes a capital allocation to Petroleos Mexicanos to pay maturing debts that have surpassed $11 billion, according to people with knowledge of the matter.
The inclusion of Pemex’s maturing debt in the budget is a bid to ease concerns in the market about the management of the oil company’s finances, one of the people said. The finance ministry will present the draft budget on Friday.