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Mexican President Andrés Manuel López Obrador unveils a $5.2 billion rescue package for Petróleos Mexicanos (Pemex) to address its financial challenges and reverse falling oil output. The government aims to prevent Pemex's financial condition from negatively impacting public finances and triggering a downgrade of Mexico's credit rating. The rescue package includes capital injection, pension obligation transfers, tax reduction, and savings from combatting fuel theft. However, concerns remain about the efficacy of the plan.
Thursday, 14 February, 2019