by Amruth Sundarkumar | Aug 3, 2022 | Sovereign Bonds, Sovereigns
Mexico is expected to spend MXN 575bn ($28bn) in 2022 on subsidies and stimulus programs, which have been implemented by the government to fight inflation. Inflation has spiked to 8.16%, its highest level in 21 years and would have been 2.6% higher without the...
by Amruth Sundarkumar | Jul 12, 2022 | Credit Ratings, Sovereign Bonds, Sovereigns
Mexico was downgraded to Baa2 from Baa1 by Moody’s on the back of weak economic and fiscal trends which are expected to undermine Mexico’s overall credit profile. The weakening trends would align it with that of Baa2-rated peers, they said. Moody’s...
by Amruth Sundarkumar | Nov 25, 2021 | Sovereign Bonds, Sovereigns
Mexico’s dollar bonds moved lower after President AMLO nominated Victoria Rodriguez Ceja as the Finance Minister of Mexico’s Central Bank (Banxico) starting in 2022. Analysts note that investors are concerned due to her lack of monetary policy experience,...
by Amruth Sundarkumar | Sep 23, 2021 | Corporates
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,...
by Amruth Sundarkumar | Aug 12, 2021 | Sovereigns
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....
