The plan would be gradual and implemented over the next six years, and any significant operation would require legislative changes.
Mexico is studying options to absorb up to US$40 billion in Pemex debt, the equivalent of what will mature in the next presidential term, as explained by the Undersecretary of the Treasury, Gabriel Yorio, to international investors in New York.
Specifically, the Mexican Government would be considering options that could include the repurchase of bonds issued by the oil company or the issuance of sovereign debt to finance the purchases.
The plan would be gradual and implemented over the next six years, and any significant operation would require legislative changes.
Yorio has declined to give details to investors about the option the Government is leaning towards, as noted by Bloomberg . Other potential paths include eliminating more taxes and moving to a dividend payout policy.
He has also indicated that he hopes to be appointed to a position in the Ministry of Finance or in Pemex in the next administration.