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Thought May 13, 2019 / 05:33 pm UTC

Short-Term Relief for Pemex, but Weak Long-Term Picture Remains

By Pedro Tuesta
Petroleos de Mexico (Pemex) announced the refinancing of $2.5 billion of debt, plus $5.5 billion in credit lines for the next two years. This helps cover part of its $14.4 billion short-term debt but doesn’t dent the -$75.8 billion net worth.