Mexico Eyes Options Beyond Pemex for $7bn IMF Reserves
Mexico is looking to allocate the $7bn of international reserves from the $12bn that the IMF transferred to the country’s central bank to other purposes over paying down debt of Petroleos Mexicanos (Pemex), the country’s most costly debt, as per sources. Originally,...
Mexico considers using $12bn of IMF Reserves to Pay Debt
Mexican President Andres Manuel Lopez Obrador (AMLO) said that his administration could use part of the recently approved $12bn IMF reserves to pay Mexico’s debt. The IMF on August 2 approved a $650bn allocation of IMF Special Drawing Rights (SDR) effective August 23....
Mexico Surprises with 25bp Hike
Banxico, Mexico’s Central Bank unexpectedly switched to monetary tightening by raising its benchmark interest rate to 4.25% after a 3-2 split vote amid an inflation spike. All 23 economists surveyed by Bloomberg were surprised by the decision as Banxico is battling...
