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Mexico ministry 'is preparing support for Pemex'

Wednesday, March 9, 2016

Mexico’s Finance Ministry is preparing a support plan for Pemex and studying all potential options, including a capital transfer or reducing the state oil company’s tax burden, chief economist Luis Madrazo said.

Capital aid for Pemex could come from part of the special revenue that the government will receive from the central bank’s operational surplus, Madrazo said. While the government should receive those funds by the end of April, Madrazo declined to say when support measures will be announced.

Source: Bloomberg