Pemex Debt Crisis: A Financial Tightrope for Mexico

Mexican state oil firm Pemex's financial predicament remains a focal point of concern as the company projects its debt to reach around $80 billion by the end of the third quarter, based on statements by Finance Minister Edgar Amador on Wednesday.

Pemex ranks among the world's most heavily indebted energy companies, shouldering nearly $100 billion in financial liabilities. This hefty financial burden includes approximately $22 billion owed to suppliers and contractors, signifying broader economic implications.

The ongoing financial challenges call for strategic measures to stabilize and revitalize one of Mexico's cornerstone energy entities, as Pemex navigates a precarious fiscal landscape.

(With inputs from agencies.)