MEXICO CITY May 25 Mexico's government said it
bought back 40 billion pesos ($2.16 billion) of local currency
bonds on Thursday, using part of the money it received from the
central bank earlier this year to cut its debt.
The central bank held an auction to buy back three
different bonds maturing in 2018 and 2019 and saw demand for
98.1 billion pesos, the finance ministry said in a statement.
In March, Mexico's central bank transferred 321.7 billion
pesos ($17 billion) of its 2016 surplus to the federal
government. The government has to use at least 70 percent of the
transfer to reduce debt, according to law.
The ministry said it would keep analyzing market conditions
to decide when to use the rest of the funds.
($1 = 18.5170 Mexican pesos)
(Reporting by Miguel Angel Gutierrez; Editing by Sandra Maler)