THE FINANCIAL SITUATION of Mexican Petroleum (Pemex) continues to be a topic of worry between specialists and the general public.
At the end of May 2024, the oil company debt directed by Octavio Romero with suppliers and contractors He stood at 133 thousand 901 million pesoswhich represents a 71% annual increase compared to the 78 thousand 274 million pesos pending at the close of 2023.
This significant increase in the debt of the State’s productive company poses serious challenges for current and future administration.
In an attempt to manage your financial situation, Pemex has reduced its debt with suppliers in the last two months, going from 148,281 million pesos in April 2024 to 133,901 million in May.
Although this reduction of 14,381 million pesos or 9.7% may seem like a positive advance, it is important to highlight that it is still among the highest levels reported historically.
Furthermore, this monthly decrease is below the expectations promised by Romero Oropeza, who had assured that payments of 70 billion pesos would be made to suppliers between May and August.
Director of Pemexhas emphasized on several occasions that the company does not seek to delay payments to its contractors and that its main objective is the achievement of goals through the fulfillment of financial commitments.
However, current figures reflect a different reality, where payment promises and financial reality appear to be misaligned.
For his part, the Secretary of the Treasury, Rogelio Ramírez de la Ohas publicly acknowledged that the Pemex debt is a significant problem that cannot be ignored.
According to his statements, the restructuring and optimization of Pemex’s finances is a process that will take years, underscoring the magnitude of the challenge facing the company.
The debt problem Pemex It is not just a matter of numbers on a financial balance sheet; has broader implications for the Mexican economy and investor confidence.
Pemex’s total debt, which amounted to $101.5 billion at the end of March, raises doubts and uncertainty about the company’s long-term financial sustainability.
THE ENTRANCE OF used vehicles from the United States to Mexico, better known as “chocolate cars“, ha grown by 52.7% in the six-year term Andrés Manuel López Obrador compared to the previous administration. Despite the efforts to regularize these cars, the program has been rated as a failure by specialists, pointing out environmental and economic risks. According to the Mexican Association of Automotive Distributors (AMDA), chaired by Guillermo Rosales, between 2019 and 2024, more than 2.5 million used units have entered the country. This increase not only affects the domestic automotive market, but also positions the current six-year term as the second with the highest volume of regularization of used vehicles, only surpassed by the government of Felipe Calderón.
THE ACQUISITION OF the Mexican agency Gluo by Orium led by Jason Cottrell, a Canadian composable commerce platform, is a strategic step in Orium’s expansion in Latin America. Gluo, with experience in e-commerce applications and an established relationship with Orium, will strengthen the company’s ability to serve the US market. Both companies share a vision focused on technological efficiency and scalability. This acquisition underscores the importance of the growing Mexican e-commerce market, valued at more than $48 billion in 2021.
THE MEXICAN INSTITUTE of Finance Executives raised his voice by uncertainty generated by the reforms of President Andrés Manuel López Obrador and the virtual elected president, Claudia Sheinbaum, which has slowed down private investment. Special concern has been caused by judicial reform, which could affect the business climate and the rule of law. Financial markets have shown volatility in the face of these expectations. The IMEF emphasized the need for legal certainty to attract investments, and they have adjusted their growth forecast for 2024 downward, from 2.2% to 2.1%, due to this and other economic factors.
VÍCTOR VILLALOBOS And his people at the Ministry of Agriculture should be worried because the United States ambassador to Mexico, Ken Salazar, announced the suspension of inspections of avocados and mangoes in Michoacán by the Animal and Plant Health Inspection Service ( APHIS) after an attack on two of its employees. The inspectors were temporarily detained during their work and later released. Salazar has asked Mexican authorities to guarantee the safety of US personnel. This situation could impact exports of avocados and mangoes from Michoacán.
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