PEMEX’s debt: its absorption by the SHCP to convert it into sovereign debt and its fiscal implications
At a press conference held last Friday, January 27, 2023, President Andrés Manuel López Obrador announced measures whereby the Ministry of Finance and Public Credit (“SHCP”) would convert part of Pemex’s debt with various lenders into a sovereign debt, which implies that the State will pay part of the debt, providing support to such state-owned […]
Proposed disappearance of the Federal Institute of Telecommunications
At the morning conference on January 7, 2021, the President of the Mexican Republic, Andrés Manuel López Obrador, stated his intention to present a reform initiative to eliminate several autonomous agencies, including the Federal Telecommunications Institute (“IFT”) and the National Institute of Access to Public Information, in order to reduce public spending.
Reform initiative on subcontracting in Mexico presented by the Federal Executive.
On November 12, 2020, the President, Andrés Manuel López Obrador, announced the Initiative with Draft Decree that seeks to modify the Mexican legal system regarding subcontracting and that will be presented for discussion before the Chamber of Deputies (hereinafter the “Initiative”).
U.S. manufacturers send letter to Mexican president to protect supply chains
Several U.S. companies members of the National Association of Manufacturers, dedicated to the production of different inputs in Mexico, sent a letter to President Andrés Manuel López Obrador on April 22, 2020, in which they express their concern regarding the decrees issued by the Ministry of Health and the different levels of government, which have […]
Implications of the 2020 economic crisis for the financial factoring market
As acknowledged by the President of Mexico, Andrés Manuel López Obrador, the country will face an inevitable economic crisis this year, mainly due to Covid-19, as well as the collapse in oil prices, the fall of the stock market, among other factors. This crisis, like any other, generates uncertainty as to the consequences it will […]
General Health Council Formally Installed
As a consequence of the current pandemic caused by COVID-19, as pointed out by the World Health Organization on March 11, 2008, there was still no formal declaration of a sanitary emergency in Mexico until yesterday, despite the fact that the Mexican Constitution expressly states that in case of serious epidemics, the General Health Council […]
National Infrastructure Investment Agreement with the Private Sector
The full publication of the National Infrastructure Plan will be announced at the beginning of 2020.