Mexico delays debt payments until 2025 due to uncertainty: Finance Ministry

The Mexican government anticipates an environment of greater uncertainty in the next two years, hence is overdue for debt repayment until 2025, This was announced on Tuesday by the Minister of Finance and Public Credit (SHCP) Rogelio Ramirez de la O.

Speaking to senators in the gloss of the fifth government report of President Andrés Manuel López Obrador, the official clarified thatThe current administration still has depreciation payments left for 2024. when the presidential change occurs.

“But President Lopez Obrador asked us to make an advance payment until 2025. The year 2025 is known to be better than us, perhaps it is filled with more uncertainty compared to 2024 and 2023. That is, we prepay the debt,” he explained.

Photo: Senate of the Republic

Ramírez de la O also explained that it is for this reason that next year they will also strive to complete the priority works of López Obrador, each time “which consume a lot of capital expenditures during this administration, back in 2024“, increasing the budget deficit to its highest level since it was recorded in the country.

“And that’s why it’s also raised the deficit indicator” it abounded.

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The Finance Minister added that the mechanisms available to any government that needs short-term financial resources.

“We have a flexible credit line with the International Monetary Fund, which we did not touch, it is clean. This is 47 billion dollars. It’s a line that you can rotate on it.” it abounded.

Moreover, he indicated that The amount received as a result of the currency exchange was also not used. with the US Treasury at $9 billion and recalled that the Bank of Mexico maintains reserves of $204 billion.

“For this reason we maintain dialogue with all rating agencies, and we will do so with any government that follows, not only if it is a government of one party or another, but we have a responsibility to ensure that it is transition without financial problems”, – he concluded.


Source: Aristegui Noticias