The Mexican government is willing to do the oil company debt repayments state Pemex when necessary, even though the company’s cash flow has improved due to high oil prices, Treasury Secretary Rogelio Ramírez de la O said Thursday.
Responding to a Reuters story last week that Petróleos Mexicanos is under pressure to resume financial debt payments after the government had said it would until 2024, Ramírez said it was important that markets understand that its secretariat is fully committed to supporting the company.
“The Ministry of Finance is always going to be behind Pemex’s amortizations,” he told Reuters, adding that if the company has its own resources to pay its debtshe would do it herself. “Her flow from her has improved tremendously this quarter.”