Ramirez de la O, the new treasury secretary, endorses support for Pemex

This forces us to act in relation to Pemex. Ramirez de la O said.

This also means, through instructions from the president, the Treasury Department’s attempt to provide feedback to Pemex on issues that need development and rearrangement, the official explained.

In addition, the Secretariat is working with the oil company on projects where additional resources can be obtained for public finances, “We are now talking about many of these projects, no doubt, it is an important relationship between SHCP and Pemex”,

In the first half of the six-year period, the Ministry of Finance provided financial and financial support to the oil company by reducing its tax burden. Last February, 32.062 million pesos was transferred to pay off Pemex’s debt.

Renzo Merino, Vice President, explained that this type of recurring assistance to Pemex has been noted and noted as one of the three main fiscal stresses for public finances, as well as increased pension payments and a high interest burden on public debt, Senior Analyst at Moody’s Investors Service, when participating in the table The impact of the pandemic on the sovereign’s credit profile and views for the remainder of the six-year period.

The specialist explained that during 2021 and 2022, the boost to the US economy will offset unfavorable domestic dynamics and a weak recovery in private investment. He stressed that in the continuation of financial and monetary management, institutional factors will continue to affect the sovereign credit profile.