Obbligazioni valute high yield MESSICO, PEMEX e Obbligazioni in pesos (MXN)

Gobierno México busca que plataformas alquiler como Airbnb paguen impuestos: secretario de Turismo




CIUDAD DE MÉXICO (Reuters) - El Gobierno de México está trabajando para que plataformas de alquiler vacacional como Airbnb paguen impuestos y evitar que compitan “de forma desleal” con la hotelería del país, dijo el domingo el secretario de Turismo, Miguel Torruco.

Durante su discurso en la presentación de la estrategia de turismo del gobierno del presidente mexicano, Andrés Manuel López Obrador, Torruco dijo que se está trabajando con otras dependencias, como la Secretaría de Hacienda, para fiscalizar a este tipo de plataformas.


Gobierno México busca que plataformas alquiler como Airbnb paguen impuestos: secretario de Turismo | Reuters
 
Da Moody's:

NEWS AND ANALYSIS SOVEREIGNS PEMEX's need for sovereign support is credit negative for Mexico Originally published on 22 February 2019 On 15 February, the Government of Mexico (A3 stable) announced that state-owned oil company Petroleos Mexicanos (PEMEX, Baa3 stable) would have access to $3.8 billion in government support measures this year. However, the announcement nets in several already known sources of financing and therefore amounts to only $200 million in fresh financing in the form of tax relief. Additionally, pessimistic market sentiment toward PEMEX, driven by concerns over whether it will be able to meet large 2019 financing needs of around $14 billion, did not improve as a result of announced measures. This suggests further sovereign support may be required. The need to support PEMEX is credit negative for the sovereign: not only will the additional tax relief for PEMEX eat into government revenues, but more importantly, if market sentiment does not improve, PEMEX will require additional sovereign support in 2020 and beyond, further eroding government finances. The details of the support package follow more than a week of public statements suggesting that the government was planning to significantly increase its extraordinary support to PEMEX this year. However, in what came as somewhat of a surprise to markets, the nominal amount of resources in the announcement involved aid that the government had previously announced. This included $528 million in annual tax breaks already announced earlier this year, a capital injection of $1.25 billion this year already included in the 2019 budget, and a swap of $1.8 billion in PEMEX pension-related promissory notes for government bonds that PEMEX can sell in the secondary market to boost its own liquidity, of which the markets were also aware. The only new source of support we can discern is a further $200 million in tax breaks for PEMEX this year. The support package to PEMEX has two credit-negative implications for the sovereign. First, the decreased tax take from PEMEX (a loss of around $750 million annually relative to the government's budget proposal) could compromise government budget targets, as lower transfers from PEMEX to the government challenge tight revenue assumptions incorporated in the government’s budgeted 1% of GDP primary surplus. This increases the risk that fiscal accounts could slip more than anticipated this year. Second, the underwhelming nature of this announcement relative to both market expectations and PEMEX's medium-term financing challenges suggests further support from the sovereign will be required. In fact, the yields of PEMEX’s most heavily traded bond spiked on the heels of the announcement, driving the already prohibitively high cost of market funding for PEMEX higher. Although PEMEX's 2019 financing needs of approximately $14 billion can be met by relying on a combination of cash on hand and use of revolver facilities, the national oil company will need to tap capital markets in 2020 to meet its funding needs. If PEMEX's access to international bond markets remains constrained, this will have direct financial implications for the sovereign as the company would require additional cash transfers or tax breaks. The need for continued – and possibly higher – sovereign support to PEMEX would undermine the sovereign's credit profile. Anna Snyder, Associate Analyst Moody’s Investors Service [email protected] +1.212.553.4037 Jaime Reusche, VP-Sr Credit Officer Moody’s Investors Service [email protected] +1.212.553.0358
 
MEXICO CITY -- Mexico's economy slowed sharply in the fourth quarter of 2018 as a decline in industrial output partly offset gains in services and agricultural production.
Gross domestic product in the October-December period expanded at a seasonally adjusted rate of 0.2% from the third quarter, the National Statistics Institute said Monday.
Industrial output fell 1.2%, while services grew 0.7% and agricultural production expanded 2.2%.
The 0.2% increase was slightly smaller than the 0.3% preliminary estimate published at the end of January. It translates into an annualized growth rate of 1%, compared with 2.4% annualized growth in the previous quarter.
Compared with the year-earlier quarter, GDP expanded 1.7%, bringing full-year growth to 2.0%, compared with 2.1% in 2017.
Recent data suggest that the economic slowdown may be continuing into 2019, posing a challenge for the administration of President Andrés Manuel López Obrador, who took office Dec. 1 pledging among other things to start reversing declining production at state oil company Petróleos Mexicanos.
Pemex's crude oil production fell 6.9% last year to 1.8 million barrels per day on average, and in January this year fell even further to just over 1.6 million barrels per day.
The government recently unveiled $5.2 billion in tax breaks and capital injections for Pemex after Fitch Ratings downgraded the company's debt, putting it within one notch of losing its investment grade. The plan aims to allow Pemex to step up drilling in existing oil fields without taking on more debt, although a number of analysts see the support as too little after years of underinvestment at the state company.
 
Mexico’s peso falls as much as 0.5% after Deputy Economy Minister Ernesto Acevedo said the government is planning tariffs to protect the domestic steel and textile industries.
Acevedo says the government is proposing a 15% tariff on steel and a 25%-30% tariff on textiles in an attempt to deal with dumping and deep discounting of products from the U.S. and China.
The tariffs would not affect countries with free trade agreements with Mexico, such as Canada and the U.S., the minister says.
 
Mexico’s struggling state oil company Pemex trimmed its 2018 loss to 149bn pesos ($7.7bn) compared with 281bn in 2017 as sales were lifted by the recent rebound in crude prices.
The company posted a $6.4 billion loss in the fourth quarter.
Pemex is facing mounting scrutiny from investors after its credit rating was cut by Fitch Ratings in late January, putting it one notch above junk status.
The government of President Andres Manuel Lopez Obrador has nonetheless continued to back Pemex. The veteran leftist took office in December after winning a landslide election on a promise to boost the company formally known as Petroleos Mexicanos.
Earlier this month, he announced a $3.9 billion capital injection to shore up the company’s finances.
Crude production fell to 1.833 million barrels per day (bpd) in 2018, down about 6 percent compared to output levels in 2017.
Crude processing at the company’s domestic refineries stood at 612,000 bpd, marking a utilization rate of jus
Company officials said they expect to begin the construction of a new oil refinery by the end of 2019 and that crude production will dip further to 1.7 million bpd by the end of the year.
The company sees new streams of pro
ction coming on line by the end of 2019 as 20 new drilling projects are launched between March and May, officials said on a conference call with analysts.
FT
 
Ultima modifica:
Aprobación de presidente mexicano aumenta pese a polémicas medidas




CIUDAD DE MÉXICO (Reuters) - La aprobación del presidente Andrés Manuel López Obrador creció durante los primeros meses de su gestión, reveló una encuesta divulgada el jueves, pese a haber tomado polémicas decisiones que sacudieron a los mercados y al sector empresarial.

La firma Consulta Mitofsky dijo que la aceptación del mandatario subió desde el 63 por ciento en noviembre a 67 por ciento en febrero. El veterano político asumió en diciembre tras arrasar en las elecciones con sus promesas de abatir la corrupción y apoyar a los más pobres, mientras su adversarios lo acusaron de populista.


Aprobación de presidente mexicano aumenta pese a polémicas medidas | Reuters
 
The Mexican government faces a one-in-three chance of having its credit rating downgraded over the coming year, as public finances struggle with mounting liabilities and slowing growth, rating agency Standard & Poor's said on Friday. Reuters
 
Analistas privados reducen estimación de crecimiento e inflación en México para 2019




CIUDAD DE MÉXICO (Reuters) - Analistas privados redujeron a un 1.63 por ciento su expectativa de crecimiento de la economía mexicana para 2019 y recortaron su pronóstico de inflación al cierre del año a un 3.65 por ciento, de acuerdo con una encuesta del banco central divulgada el viernes.


Analistas privados reducen estimación de crecimiento e inflación en México para 2019 | Reuters
 
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