By KELIN DILLON In an attempt to reduce its foreign debt, Mexico’s state-owned fuel company Petróleos Mexicanos (Pemex) received $3.5 billion in bond buybacks from the Mexican federal government, the country’s Secretariat of Finance (SHCP) reported on Tuesday, Dec. 7. This financial injection is equivalent to 74 billion pesos, about half the annual budget given to Mexico’s Secretariat of Public
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By KELIN DILLON On Wednesday, Nov. 24, Mexican President Andrés Manuel López Obrador (AMLO) nominated Undersecretary of Expenditures of the Secretariat of Finance (SHCP) Victoria Rodríguez Ceja to head the Central Bank of Mexico (Banxico) despite her inexperience, in what many said was a snub to former SHCP head Arturo Herrera, who had been informed of his loss of the
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By KELIN DILLON If Mexico’s controversial proposed reform to give carbon-based energy priority to the state-owned Federal Electricity Commission (CFE) reaches passage, the CFE will be required to heighten its budget and subsequently “charge a bill” to the Mexican government or the shift will likely result in blackouts, revealed a study by the Mexican Institute for Competitiveness (IMCO). The reform
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By KELIN DILLON In a move on Tuesday, Oct. 27, Mexico’s Secretariat of Finance dedicated 154.7 million pesos in budget to the General Directorate of Legal Consulting for International Trade of the Secretariat of the Economy, to be used during 2022 to defend the country against potential litigation from outside countries. The International Trade Legal Consultancy likewise provides advice and
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By KELIN DILLON A massive extra 68 billion pesos have been given to the construction of Mexico’s controversial Dos Bocas refinery in Tabasco during the first semester of 2021 — more than what was given to the country’s health sector during the same time period despite the deadly coronavirus pandemic. Data from Mexico’s Secretariat of Finance (SHCP) revealed the initially
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By KELIN DILLON Mexico’s Attorney General (FGR), via its Office of the Special Prosecutor for Electoral Crimes (FEDE), announced it was opening an investigation into alleged electoral crimes committed by two current candidates for the governorship of the conservative state of Nuevo León, Adrián de la Garza of the Institutional Revolutionary Party (PRI) and Samuel García of the Citizens’ Movement.
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By KELIN DILLON Mexico’s Secretariat of Finance and Public Credit (SHCP) announced the country has been placed on the U.S. Department of Treasury’s monitoring list for financial irregularities and currency practices based on methodology studying the two countries’ bilateral trade in 2020, Mexico’s first appearance on this list. “Mexico met two of the three criteria in this report, having a
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By KELIN DILLON A large prescription drug shortage is now affecting Mexico following the Mexican government’s dismantling of its system to acquire and distribute said prescription, an issue even the United Nations (UN) says it cannot help to remedy. The Secretariats of Finance and Public Health took control of the national medicine system, which was previously under the jurisdiction of
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