The Mexican government is likely to continue supporting heavily indebted state oil firm Pemex with about $15 billion per year, Fitch ratings agency said in an a report on Wednesday, adding these will at least cover international bond debt amortizations, Reuters reported. However, should the government substantively increase its support for Pemex, this would have a negative credit effect on the sovereign, Fitch added.

Mexican payroll lender Credito Real is extending a deadline to secure a majority of investors to back a prepackaged bankruptcy filing in local courts it sees as the resolution to one of the country’s biggest corporate blow-ups, Bloomberg News reported. The non-bank lender and a group of creditors are planning to take another 30 days to recruit more bondholders in the $1.9 billion of defaulted debt to sign on to the offer originally set to expire Thursday, people familiar with the talks said, requesting anonymity since the discussions are private.

The Bank of Mexico maintained its benchmark interest rate at 11.25% on Thursday, in line with analysts' forecasts, underscoring that the inflationary outlook remains "very complex" and suggesting the rate could hold steady for a while, Reuters reported. The unanimous decision by the central bank's five-member board is the third consecutive rate hold since Banxico, as the Bank of Mexico is known, halted a two-year hiking cycle in May amid easing inflation.

Mexico saw its annual inflation rate slow for the sixth consecutive month in July to 4.79%, data from statistics agency INEGI showed on Wednesday, continuing a downward trend spurred by a long cycle of interest rate hikes, Reuters reported. Headline inflation was in line with a market forecast of 4.79%, a more than a two-year low after rising to a record 8.7% last year. The deceleration in recent months has largely been propelled by a decline in energy and food prices, Goldman Sachs analyst Alberto Ramos said.

The Mexican government is no longer planning on moving up the timeline to pay off some $4.2 billion in outstanding bonds issued to finance a partly built airport on the outskirts of Mexico City that was later canceled, a senior transport official said on Friday, Reuters reported. The canceled Texcoco project was meant to alleviate pressure at the capital's decades-old airport, but shortly after he was elected in 2018, President Andres Manuel Lopez Obrador ordered construction on the new facility halted, blasting it as too expensive and stained by corruption.

Mexico’s economy grew more than expected in the second quarter as private consumption remains robust and the country benefits from strong exports to the US, its largest trading partner, Bloomberg News reported. Gross domestic product rose 0.9% from the previous three months, above the 0.8% median estimate of analysts surveyed by Bloomberg. From the same period a year ago, GDP grew 3.7%, more than economists’ 3.3% forecast, according to preliminary data released by Mexico’s national statistics institute Monday.

Petroleos Mexicanos’s profits fell in the second quarter as the company struggles with soaring debt, Bloomberg News reported. Pemex also confirmed it received fresh funds from the government in a capital injection worth 64.97 billion peso ($3.9 billion), said Alberto Jimenez, associate managing director of finance at the company, on a conference call with investors on Friday. In total, support under Lopez Obrador has amounted to nearly $49 billion in capitalizations, tax breaks and other assistance. “The amount of the contribution for 64.97 billion pesos is confirmed,” he said.

Mexico’s inflation extended its gradual slowdown in early July, roughly in line with forecasts, helped by double-digit interest rates and the strongest peso since 2015, Bloomberg News reported. Consumer prices rose 4.79% in the first half of the month compared to the same period a year earlier, down from 4.93% in late June, the national statistics institute reported Monday. The result was just above the 4.77% median estimate of economists surveyed by Bloomberg.

Mexico has been hit with three sets of trade arbitration proceedings in the past few days, according to the International Centre for Settlement of Investment Disputes (ICSID), Reuters reported. First Majestic Silver and Silver Bull Resources, both Canadian companies, as well as U.S. food firm Arbor Confections have filed cases against Mexico, ICSID said in brief statements issued between Thursday and Friday. The proceedings all invoked the North American Free Trade Agreement (NAFTA) and the United States-Mexico-Canada Agreement (USMCA) which replaced NAFTA.