Mexico to trim 3-year, 5-year debt issues in third quarter

Mexico's government cut spending this year after a sharp drop in oil prices hit revenue from the state-owned oil firm.

The finance ministry said it would hold steady the amount of shorter-term paper and longer-term debt it has been placing. (Photo: Archive/EL UNIVERSAL )
English 25/06/2015 13:18 Reuters Actualizada 13:18
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The Mexican government will cut the amount of three-year and five-year debt on offer during its weekly auctions in the third quarter, its finance ministry said on Thursday.

The ministry said in a statement it would hold steady the amount of shorter-term paper and longer-term debt it has been placing.

Mexico's peso sank to a record low in June amid concerns that higher U.S. interest rates will sap investor demand for emerging market debt.

Mexico's government cut spending this year after a sharp drop in oil prices hit revenue from the state-owned oil firm. The finance ministry is planning to cut its budget next year to account for lower oil income and less demand for Latin American debt. 

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