February 26, 2019 / 5:08 PM / 3 months ago

Moody's flags spending risks to Mexico credit rating

MEXICO CITY, Feb 26 (Reuters) - Rating agency Moody’s on Tuesday said it saw significant pressure on Mexico’s sovereign credit rating as the government of President Andres Manuel Lopez Obrador seeks to meet pledges to raise social spending and revive state oil firm Pemex.

“There are clear tensions between government objectives to promote socially-inclusive growth and achieve a more even distribution of wealth, and others aimed at preserving fiscal responsibility,” Moody’s said in a report on Mexico. (Reporting by Stefanie Eschenbacher; Editing by Dave Graham)

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