The Ministry of Finance and Public Credit (SHCP) This April 30 reported that at the end of the first quarter of 2025, the Public debt from Mexico was at 17 billion 662 billion pesosamount equivalent to 49.2% of GDP.
However, Hacienda said that it is a stable and sustainable trajectory.
According to the quarterly report of the SHCP, Federal Government’s net debt It amounted to 15 billion 521 billion pesos, of which 82.8% are in the domestic market.
Within this percentage, 78.9% correspond to debt contracted at a fixed rate and with long -term maturities, which reinforces the stability of the portfolio.
Between January and March 2025, refinancing operations played a key role in improving the public debt maturity profile.
During this period, 367 billion pesos were refinant in the domestic market by early maturities, without resorting to the issuance of new financing.
These actions contributed to reduce short -term liquidity pressures and optimized the management of financial commitments.
At the close of the first quarter of 2025, the favorable conditions in international financial markets and the trust of investors in the macroeconomic foundations of Mexico allowed the country to cover much of their funding needs in foreign currency.
As reported by the Government, two dollars and euros financing operations were carried out, reaching a total amount equivalent to 11 billion dollars, with a historical demand that exceeded the initial offer. This performance is part of a comprehensive risk management strategy and sustainability of public debt.
On January 30, a syndicated auction of M at 5 years was made for a total of 16 billion pesos. This instrument, expiring in February 2030, offers a coupon rate of 8.5% and a yield of 9.7%. The next day, on January 31, a repurchase of various financial instruments was executed, including CETES, Bondes F, M and UDIBONOS BONDS, for a total amount of 186 billion pesos, with maturities between 2025 and 2029.
Simultaneously, new instruments with maturities were auctioned between 2026 and 2030, managing to refinance 79 billion pesos corresponding to maturities of 2025.
In February, the operations continued with the placement of Bondes G in the local market. On February 19, 28 billion pesos were issued in these instruments, distributed in deadlines of 2, 3.7 and 5 years, with surfaces of 0.1294%, 0.1739%and 0.1929%, respectively.
The next day, on February 20, a repurchase of CETES, M and UDIBONOS BONDS with maturities between 2025 and 2028, for an amount of 148 billion pesos was carried out.
In addition, instruments with maturities between 2027 and 2040 were auctioned, refining a total of 111 billion pesos corresponding to the 2025 and 2026 years.
In March, the operations focused on updating references and adjusting maturities.
On March 13, 950 million UDIS were placed, equivalent to approximately 8 billion pesos, to update the 3 -year reference.
Subsequently, on March 14, an exchange of maturities was made between 2025 and 2028 for an amount of 33 billion pesos, using the new 3 -year UDIBONOS reference, which reached an amount of 34 billion pesos.
In the international arena, foreign currency financing operations stood out for the high demand of investors.
According to the authorities, these transactions allowed to cover most of the external financing needs by 2025, consolidating the positive perception of the Mexican economy and strengthening the sustainability of public debt.
