Mexico crafts plan to help states reorganize debt By Reuters

Mexico crafts plan to help states reorganize debt By Reuters


© Reuters. FILE PHOTO: Mexico’s President Andres Manuel Lopez Obrador attends a news conference at the National Palace in Mexico City

MEXICO CITY (Reuters) – Mexico’s government said late on Wednesday it had agreed a plan with national development bank Banobras to help restructure some debt among the federal states, which have felt the squeeze from a sharp recession during the coronavirus pandemic.

After a meeting between President Andres Manuel Lopez Obrador and state governors, the Finance Ministry said rules for federal programs from previous administrations linked to state financing contracted with Banobras had been modified.

The rule changes would allow states to carry out refinancing or restructuring of their debt, the ministry said.

Such steps will be determined in agreement with Banobras as sole creditor of the financing, and the measures did not mean any state would fail to meet its obligations, it added.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME