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Mexico government to help Pemex with debt payments, CEO says

·1 min read

MEXICO CITY, March 3 (Reuters) - Mexico's federal government will take on payments coming due for Petroleos Mexicanos (Pemex), the state oil company's chief executive said on Wednesday, adding to a series of support measures for the firm announced in recent weeks.

"There is now a decision by the federal government that the federal government will be the one that takes on these debt payments," Pemex CEO Octavio Romero said during a regular news conference.

Romero did not explain the scope of the new policy, such as which debt payments would be covered or when the policy will take effect.

He said the decision would not only help Pemex, which is heavily indebted, but would also benefit the finance ministry. (Reporting by Raul Cortes Fernandez; Writing by Frank Jack Daniel)