Related Articles
Forward article link
Share PDF with colleagues

Mexico: Pemex under pressure to reform as Canterell declines

The country's new government should relax the financing constraints on state-owned Pemex, the International Monetary Fund (IMF) says in a new country report. Under the existing financing arrangements, in which raising oil-sector investment requires either fiscal-policy tightening or the issuance of public debt, too much strain is being put on the public-sector balance sheet, the report says. At the same time, Pemex is denied access to technologies and advantages that other oil companies obtain through joint ventures, because foreign ownership of hydrocarbons resources is prohibited in Mexico. In addition, argues the IMF, unlike international oil companies, Pemex is unable to adjust its annu

Also in this section
Nigeria's election hangs over energy sector
19 April 2018
Africa's biggest economy is growing again. But next year's vote is stalling reform and investment in its crucial energy sector
Syria: ruthless business as usual
18 April 2018
The joint US-UK-French strikes on chemicals targets in Syria won’t affect the war—but they could damage Trump's image in the region
Elections a new rupture point in Venezuela crisis
16 April 2018
A Maduro loss in May's election could be a turning point, but recovery will be lengthy