Mexico Could Take on Pemex’s Debt or Reduce Its Taxes, AMLO Says

Mexico is developing a plan to help Petroleos Mexicanos pay off its debt, with options that could include taking on the state oil company’s debt at the sovereign level or reducing its taxes, according to President Andres Manuel Lopez Obrador.

The Finance Ministry could “help with the transfer of Pemex debt to sovereign debt, to treasury debt,” said Lopez Obrador, known as AMLO, during his morning press conference on Friday. “It is also an important practice because the credit rates are lower for sovereign debt than Pemex debt or debt from the Comision Federal de Electricidad,” the national power …