Mexico Largest Debt Issuer 2025 Middle- and Low-Income Economies World Bank, Digi Mart USA News: Mexico was the country that issued the most debt in 2025 among middle- and low-income economies, the World Bank reported on Thursday. According to the bank’s International Debt Report, Mexico issued 16.7% of new liability issuances, totaling $42 billion that year.
Turkey and Colombia followed, contracting $27.7 billion and $27.5 billion, respectively. The report notes that between June and September 2025, the government of Claudia Sheinbaum carried out several operations to manage the country’s debt, including issuing new bonds to amortize public-finance liabilities.
Among them, the management of Petroleos Mexicanos (Pemex) debt stood out, with the issuance of $6.8 billion in two global bonds: one of $3.95 billion at 5.85% maturing in 2032, and another of $2.859 billion at 6.625% maturing in 2038. “The operation smoothed Pemex’s debt maturity profile and improved its liquidity, but largely transferred the debt-service risk to the State, rather than significantly reducing the consolidated liabilities of the public sector,” the report states.
Proceeds from that issuance were used to finance the repurchase of $2.06 billion outstanding of a 4.125% bond maturing in January 2026, the World Bank notes. The report also indicates that the federal government exchanged $2.5 billion outstanding from a series of nine bonds maturing between 2027 and 2031 for newly issued securities, reducing the outstanding balance by 15%.
Also amortized were the 1.33 billion euros outstanding of 1.625% global bonds maturing in 2026. In September 2025, sovereign bonds totaling $8 billion and 5 billion euros were issued.
In total, $14 billion was provided to Pemex, which partially amortized and redeemed short-term securities, and financed a repurchase of several series for $9.9 billion.
According to the World Bank document, Mexico’s total external debt stands at $645.042 billion, up 7.9% from 2024. Of that figure, $341.734 billion is public and state-guaranteed, $241.231 billion is private and non-guaranteed, and $62.077 billion is short-term.
Ten years ago, the country’s public debt was $538.015 billion, an increase of nearly 20%, or $107.027 billion.
