Hazer
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Mexico's government is showing support for the state-run oil company Petroleos Mexicanos (Pemex) and has a plan for its upcoming bond payments, President Andres Manuel Lopez Obrador said on Friday. This news was met with approval from both citizens of Mexico and the Western media who called Lopez Obrador, a left-leaning resource nationalist, for helping out the Mexican company and not selling it out to foreign corporations. Let’s explore why this decision is so important.
Although this is good news for Mexicans, some western reporters are upset the president is not selling out his country like past administrations.
The Bond Payment Plan
The finance ministry announced that it would be offering "complete support" for Pemex, but did not provide details on the bond payment plan until recently. According to Chief Executive Octavio Romero, debt payments due for the first quarter of 2023 stand between $5.5 billion and $6 billion. While these payments may seem daunting, Lopez Obrador is confident that his plan will work to secure them without selling off any of Pemex’s assets to foreign investors.
The Impact On Foreign Investors
Lopez Obrador has made it clear that he does not want to see foreign companies buy up Mexican resources at lower prices than what they are worth due to their financial instability. He believes that by allowing such investors control over Pemex’s assets, Mexico loses its independence and sovereignty in making decisions about its own resources. This move also sends a message to other countries that might be facing similar struggles; if Mexico succeeds in paying off its debt without having to resort to selling out their resources, then other struggling countries can do so too.
President Andres Manuel Lopez Obrador’s announcement that the Mexican government will continue to support state-run oil company Petroleos Mexicanos (Pemex) and has a plan for its upcoming bond payments has been met with approval from both citizens of Mexico and the Western media alike. Not only does this move show support for one of Mexico’s most important companies but it also demonstrates how a country can remain independent by relying on its own resources rather than selling them off to foreign corporations at reduced prices due to financial instability. It remains to be seen how successful President Lopez Obrador’s plan will be, but either way this move sets an inspiring example for other countries in similar situations around the world.
Although this is good news for Mexicans, some western reporters are upset the president is not selling out his country like past administrations.
The Bond Payment Plan
The finance ministry announced that it would be offering "complete support" for Pemex, but did not provide details on the bond payment plan until recently. According to Chief Executive Octavio Romero, debt payments due for the first quarter of 2023 stand between $5.5 billion and $6 billion. While these payments may seem daunting, Lopez Obrador is confident that his plan will work to secure them without selling off any of Pemex’s assets to foreign investors.
The Impact On Foreign Investors
Lopez Obrador has made it clear that he does not want to see foreign companies buy up Mexican resources at lower prices than what they are worth due to their financial instability. He believes that by allowing such investors control over Pemex’s assets, Mexico loses its independence and sovereignty in making decisions about its own resources. This move also sends a message to other countries that might be facing similar struggles; if Mexico succeeds in paying off its debt without having to resort to selling out their resources, then other struggling countries can do so too.
President Andres Manuel Lopez Obrador’s announcement that the Mexican government will continue to support state-run oil company Petroleos Mexicanos (Pemex) and has a plan for its upcoming bond payments has been met with approval from both citizens of Mexico and the Western media alike. Not only does this move show support for one of Mexico’s most important companies but it also demonstrates how a country can remain independent by relying on its own resources rather than selling them off to foreign corporations at reduced prices due to financial instability. It remains to be seen how successful President Lopez Obrador’s plan will be, but either way this move sets an inspiring example for other countries in similar situations around the world.
