Mexico to give $4.2 bn in aid to Pemex oil firm

Pemex will receive a capital injection of $1.5 billion and a credit facility of 2.7 billion from Mexico's government to cover pension costs this year
AFP

Mexico City (AFP) – Mexico’s government announced on Wednesday plans to provide $4.2 billion in liquidity to troubled state-run energy firm Pemex, which has posted huge losses amid crumbling oil prices.

The finance ministry said Pemex will receive a capital injection of $1.5 billion and a credit facility of 2.7 billion to cover pension costs this year.

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