Mexico’s $41 Billion Debt Binge Made Pemex Best Bond in Latam

A Petroleos Mexicanos gas station in Punta de Mita, Nayarit state, Mexico. — A Petroleos Mexicanos gas station in Punta de Mita, Nayarit state, Mexico.
Photographer: Cesar Rodriguez/Bloomberg

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By Kelsey Butler

December 22, 2025 at 2:19 PM UTC

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An unprecedented flood of support from Mexico’s government this year led to a windfall for Petroleos Mexicanos debt investors.