MEXICO CITY—Mexican officials are setting out to assure investors of government support for state oil company Petróleos Mexicanos after the firm received a $4.2 billion financial lifeline to help it through a cash-flow squeeze brought on by falling oil prices.
Finance Minister Luis Videgaray and Pemex Chief Executive José Antonio González Anaya were scheduled to meet with investors in New York on Monday to ratify the government’s support for the company and underscore its importance to the Mexican economy, the Finance Ministry said.
The government said last week it will give Pemex $1.5 billion in capital from federal budget savings, and about $2.7 billion in money related to an overhaul of the state firm’s pension liabilities. Pemex will use the funds to pay suppliers and contractors owed money from 2015.
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