Pemex Asks Goldman Sachs, JPMorgan for $1 Billion Loans
Bloomberg previously reported that Pemex has been in talks with Goldman Sachs and HSBC for financing related to reducing greenhouse gas emissions
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NYT: AMLO Only Making Poverty in Mexico Worse
By THÉRÈSE MARGOLIS In a scathing report on the state of poverty in Mexico, the New York Times (NYT) on Monday, July 18, pointed out that while President Andrés Manuel López Obrador (AMLO) has repeatedly claimed that fighting poverty is his most important priority, nearly every policy he has enacted has only served to hurt the poor. Nearly four years
Read moreThe Storm Is Coming: Banxico Predicts Inflation Surge
By THE PULSE NEWS MEXICO STAFF Mexico’s Central Bank (Banxico) warned Thursday, Sept. 28, that the country will suffer higher inflation in the months ahead, raising its forecast for the close the year to 6.2 percent, up from its previous prediction of 5.7 percent. That new figure will constitute the highest level of Mexican inflation since December 2017, when it
Read moreCFE Faces Further Legal Trouble over February’s Freeze
By KELIN DILLON Mexico’s state-owned Federal Electricity Commission (CFE) is currently facing arbitration from the U.S.-based company Whitewater Midstream for a non-payment of gas acquired during February’s pipeline freeze and subsequent gas shortage in Texas. Estimates say that the CFE could owe as much as $100 million to Whitewater Midstream, which is one of the main suppliers of natural gas
Read moreGoldman Sachs Sues CFE Over Debt
By KELIN DILLON Global investment bank Goldman Sachs launched an international lawsuit against Mexico’s state-owned Federal Electricity Commission (CFE) for its apparent debt, to the sum of $400 million. The CFE allegedly defaulted on payments for a natural gas purchase during last February’s gas pipeline freeze, which affected Texas and Northern Mexico, resulting in the suit. “The Federal Electricity Commission
Read moreMexico News Roundup
By RICARDO CASTILLO Don’t Whine Later! The programmed meeting of the Permanent Committee of the Mexican Congress to discuss the revamping of the administration’s Expenditures Bill has been postponed for at least two weeks due to the expanding coronavirus pandemic. Chamber of Deputies Majority Leader Mario Delgado Carrillo said that he had talked over the phone with Senate President Mónica
Read moreShifting Sands, and So Little Time
By ANTONIO GARZA, former U.S. Ambassador to Mexico
Read moreThe Mexican Recession that May Not Be
By RICARDO CASTILLO It’s the end of July and figures are beginning to trickle in regarding the state of Mexico’s economy. The first one landed on Friday, July 26, from the National Institute of Geography and Statistics (Inegi), which is the nation’s foremost authority in gauging financial and industrial trends and the news is not good since the Gross Domestic
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