How Mexico’s latest oil-theft scandal compares to past corruption
MXPE Weekly Essentials ft. why popular Sheinbaum buses supporters, and other highlights in Mexican politics, policy, and markets from the past week.
MXPE Weekly Essentials. Only the most important news in Mexican politics, policy, and markets from the past week.
Uncharted Mexico: Oil and rotter
It’s a tale of massive and contradictory proportions.
On one end, there’s Pemex’s fight to regain credibility in the international markets. It’s something the State-run oil company has slowly, painstakingly managed to claw back through financial wizardry to leverage its debts and by convincing investors to continue to trust in it after defaulting on its dues with its previous contractors.
Fitch Ratings agency seems to buy it, upgrading Pemex to the grade just below investment level.
But then there’s the other side of the story.
Keep reading with a 7-day free trial
Subscribe to The Mexico Political Economist to keep reading this post and get 7 days of free access to the full post archives.