THE FINANCIAL MANAGEMENT of Mexican Petroleum (Pemex) remains a reason for worry both at the level national as international.
Although the announcement that the company plans to pay 70 billion pesos to suppliers during this month of May and pay off your debt in this area by August, may seem encouraging. But the figures reveal a more complex reality.
In the first three months of the year, Pemex paid a total of 95 thousand 638 million pesos to supplierswhich represents an increase of 16% compared to the same period last year.
This increase reflects a trend of sustained growth in payments to suppliers. However, the total debt of the state company he runs Octavio Romero Oropeza remains a significant concern.
Despite efforts to reduce debt, the company closed the year 2023 with a financial debt of 94.5 billion dollarswhich makes it one of the most indebted oil companies in the world.
It is important to note that this debt is considerably less than the $106.1 billion it closed with in 2023, suggesting some progress in reducing the company’s financial burden.
However, it remains an alarming figure that requires continued attention.
Romero Oropeza attributes part of this situation to the financial management of the previous six-year termduring which the company’s debt doubled, going from $67 billion to $129 billion.
While it is true that past decisions have long-term consequences, it is also essential to examine how current challenges are being addressed.
Since March 18, 2022, the company has made public the names of the supplier companies, the current contracts and their amounts, along with information on payments made, outstanding debts and estimated payment dates.
This is an important step towards greater corporate responsibility and financial transparency.
Although Pemex is taking steps to address its debt and improve its transparency, the magnitude of the debt remains a major concern.
Additional and strategic actions, as well as strong government support, are needed to ensure the long-term financial sustainability of this key company for the Mexican economy.
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