ANNOUNCEMENT 15 Feb 2019

The Mexican Executive has announced a new plan to bail out the government-owned oil company PEMEX.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Andrés Manuel López Obrador. Sala de prensa. "Presentan medidas de rescate financiero a Pemex" de 15 de febrero de 2019. Available at: https://lopezobrador.org.mx/2019/02/15/presentan-medidas-de-rescate-financiero-a-pemex/

Inception date: 15 Feb 2019 | Removal date: open ended

Capital injection and equity stakes (including bailouts)

On 15 February 2019, the Mexican president, Andres Manuel Lopez Obrador, has announced the new set of measures to bail out PEMEX. 

Initially, the plan contemplates the allocation of MXN 107 billion (over USD 5.53 billion at the time of the announcement) although the Government has stated that the total resources will be increased if necessary.

PEMEX is owned by the Mexican government and has the monopoly of crude oil extraction in Mexico. 

AFFECTED SECTORS