UNITED STATES (OBSERVATORY NEWS)
The authorities decided to no longer publish information about transactions with investment banks because of fears of attracting speculators and incurring additional costs.
Information on transactions of the Mexican government with oil derivatives was previously published annually, but since 2019, the Lopez Obrador administration has made it a state secret for a period of 5 years.
This was reported by Bloomberg, citing a document from the Ministry of Finance of Mexico, sent to the Federal Audit Office of Mexico.
The Central Bank of Mexico has traditionally been one of the most active central banks among oil-producing countries that have concluded contracts to hedge risks from falling oil prices. Previously, authorities published information about put options (options for sale – approx. ) with investment banks and oil companies, as well as data on the value of the transaction. In 2019, only the total estimated value of the concluded contracts was announced – $ 1 billion.
At the beginning of 2020, the country’s Ministry of Finance announced that under the hedging program, financial risks for the country’s budget were insured against falling prices below $ 49 per barrel, without disclosing at the same time, any details of the transactions concluded.
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