LatinNews Daily - 27 September 2023

* Mexico’s Finance Minister Rogelio Ramírez de la O has announced that the government led by President Andrés Manuel López Obrador has brought forward debt repayments for 2025 due to foreseeing an environment of greater uncertainty in the next two years. Appearing before the federal senate to deliver the fifth report of the López Obrador government, Ramírez stated that the government had started to prepare debt maturities for the next administration. He said that while the current administration still had amortisations for 2024, when the changeover of the Mexican presidency will take place, President López Obrador had also asked for prepayment to be made for 2025, given that 2025 “is perhaps weighed down by more uncertainty compared to 2024 and 2023”. Ramírez also said the government was working to finish the current administration’s big infrastructure projects which “consume a lot of capital expenditure” before the change in government. He said that the current administration would also leave intact mechanisms for short-term financing, such as a flexible credit line for US$47bn that Mexico holds with the International Monetary Fund (IMF) that “we have not touched”.