By RICARDO CASTILLO It seems that about once a week, U.S. ratings are playing an old racist version of the Whac-A-Mole carnival game with Mexican President Andrés Manuel López Obrador (AMLO). In these now-defunct fairs, pitchers would be given three balls to throw at a black man – a real person – in an attempt to hit him. Behind the
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By RICARDO CASTILLO There’s no question about it: Mexico’s once-prolific cash cow has run dry. The country’s economic national pride, the state-run oil giant Petróleos Mexicanos (Pemex), is now in financial straits, with its latest corporate report showing that just in the last quarter of 2018, it “lost” over 2 billion pesos. That definitely makes Pemex the only oil company
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By THÉRÈSE MARGOLIS On the morning of Friday, Feb. 15, Mexican President Andrés Manuel López Obrador (AMLO) eagerly presented his four-punch bailout plan to save the country’s financially lethargicm state-run oil company Petróleos Mexicanos (Pemex) from economic collapse. By that same afternoon, at least three international financial institutions and one of the “Big Three” global credit rating agencies had declared
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Photo: aerogroup.com
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By RICARDO CASTILLO It’s hard to understand why Mexican President Andrés Manuel López Obrador (AMLO) reacted viscerally to the two-level downgrading New York-based Fitch Ratings made of the state-owned oil company Petróleos Mexicanos (Pemex) last Tuesday, Jan. 29. In any case, if there is going to be a culprit for the heinous performance of Pemex finances, it is none other than
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By THE PULSE NEWS MEXICO STAFF Despite a downgrade by “Big Three” credit rating agency Fitch one day earlier, Mexican President Andrés Manuel López Obrador (AMLO) told reporters on Wednesday, Jan. 30, that the state-run oil company Petróleos Mexicanos (Pemex) is stronger financially than it has been in 30 years. The New York-based Fitch downgraded Pemex by two notches from
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