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AMLO assured that Pemex and CFE would go bankrupt if he was not chairman: “it would be chaos”.

U.S.A.AMLO assured that Pemex and CFE would go bankrupt...

Andres Manuel López Obrador assured that if he does not win the election in 2018, the country will be in chaos and destroyed (Photo: Presidency)

President Andres Manuel López Obrador (amlo) He assured that if he does not win the elections in 2018, there will be chaos and devastation in the country, as the looting will continue, Many parastatals will go bankrupt And there will be more deaths from the COVID-19 pandemic.

During his morning press conference from the National Palace, the Confederate president announced that if he were not in power, Federal Electricity Commission (cfe) y mexican oil (Pemex) will go bankrupt, as his government is “proposing” to both parastatals as “corrupt technocrats and their bosses” plans to ruin Mexico’s public companies.

“Just imagine, if the change had not happened in (20) 18, Pemex would have already gone bankrupt, the federal commission would have been the same, and the country would have been anarchy. I’m no astrologer, but I have sensitivity. If that’s looting If the policy had not changed, the country would have drowned.

The chief executive said he could not face the coronavirus pandemic as his administration has done (Photo: Andrea Murcia / Cuartocuro.com)
The chief executive said he could not face the coronavirus pandemic as his administration has done (Photo: Andrea Murcia / Cuartocuro.com)

The chief executive also confirmed that he will not be able to cope with the coronavirus pandemic as his administration has done, that the disease will lead to more deaths and, despite the economic crisis caused by COVID-19, There is economic stability in the country, Because the Mexicans have not been indebted and poor.

“They couldn’t face the pandemic like we did, Many more lives would have been lost due to this, the country would have been destroyed., We have economic and financial stability, the country is not in debt, people have not become poor despite the economic crisis and Mexico has a high reputation,” he remarked.

Similarly, when asked about the government‘s strategy for the energy sector, President López Obrador stated that pemex loan, 113,000 million dollars, is sovereign,

The federal president announced that if he were not in power, CFE and Pemex would go bankrupt (REUTERS/Daniel Becerril)
The federal president announced that if he were not in power, CFE and Pemex would go bankrupt (REUTERS/Daniel Becerril)

In its partnership, AMLO announced that this year Finance Ministry to support Pemex And it would assume a 2021 amortization of about $6.30 million, giving the firm more free resources.

“We will continue to support, support. The fact is that Pemex’s debt is a sovereign debt, although it is not formally treated as such. We won’t let Pemex go bankrupt, the public treasury is going to support Pemex when we’re in government and we’re going to support the Federal Electricity Commission.

Even then, refrain from giving the figure of the amount that they might pay because if it did, it would lend to speculation in bonds due to the existence of vulture funds, “where the people who manage these funds or hold shares in these funds are entirely devoted to speculation.” Then, they access privileged information, information smuggling takes place”.

López Obrador reports Pemex's $113,000 million in debt is sovereign (REUTERS/Stringer)
López Obrador reports Pemex’s $113,000 million in debt is sovereign (REUTERS/Stringer)

The President recalled that previous governments Awarded the contract to buy gas at higher prices.and gas that is not needed”, because, he pointed out, the country currently has a 40% surplus of gas and has to be paid for even if it is not used.

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“That gas needed to be cheated because they were going to build 12 thermoelectric plants. They didn’t build thermoelectric plants, which was a parapet, all they wanted was a gas pipeline business, This operation was authorized in an irregular manner, it was not even approved by the Council of the Federal Electricity Commission,” he said.

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