López Obrador negotiates a restructuring of the external debt service, with benefits from 2025

Andres Manuel Lopez Obradorpresident of Mexico, assured that his government is maneuvering to restructure the service of the Mexican external debt, with the objective that the next government federal government that will start in 2024 has few financial pressures at start-up six-year term

The president indicated that in the coming days the Secretary of the Treasury, Rogelio Ramirez de la Owill be presented at his morning conference to explain the details of this restructuring, whose benefits will be felt in the year 2025.

“We are thinking forward, the Secretary of the Treasury informed me of a restructuring (…) We have already done a debt restructuring, so that in 2025 half of the debt service interest is paid than what we pay when we enter the government,” López Obrador said this Wednesday morning.

We have already restructured the debt, so that in 2025 there will be no pressure to pay for debt service. It’s not just next year and the 24th, no. That in the 25th they do not have financial pressures”, said the president.

López Obrador indicated that the last stretches of the six-year term turn out to be the most complicated in financial and economic matters for the country, so his objective is to leave a “slack” for whoever turns out to be his successor in the Presidency of Mexico.

“We act very responsibly, because financially we have resolved the six-year term. But we are already thinking ahead (…) We want to leave room for the next government, not how Carlos Salinas left Ernesto Zedillo, with the economy on pins (…) We are looking for the next government to not have the pressure we had on the 25th, which is why the payment of the external debt is reduced to half, but we will explain that soon”, he insisted.

From his morning conference on this Day of the Holy Innocents, President López Obrador insisted that his government is also working to keep inflation under control and he also boasted that Mexico would become one of the countries with the best economic performance in 2022.

“The year 2023 should be better, because we are already bringing momentum and in politics momentum counts a lot and not losing it, we are going to continue growing (…) Although we are preparing and taking measures, in any case that (inflation) it’s a yellow spotlightbecause that affects us a lot,” he said.