Exclusive: Mexico rainy-day fund could avoid Pemex debt refinancing this year - minister

Mexico`s finance ministry is exploring possibilities to avoid a costly refinancing of ailing state-oil company Pemex`s debt this year including dipping into a budget stabilization fund, Finance Minister Carlos Urzua said on Friday.

Urzua told Reuters in an interview that Pemex`s weak credit rating could make it "very costly" to refinance more than $6 billion of payments that are due this year.

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