Bank of Mexico will run new oil fund

The Bank of Mexico

The Bank of Mexico will manage a new oil fund created by the country's government, and will be tasked with investing the country's wealth over a "wider horizon" than in the past.

The agreement on the Mexican Oil Fund for Stabilization and Development was signed yesterday between the central bank and the government, and states the institution "will be responsible for receiving, managing and distributing all income, excepting taxes, that the Mexican government receives from exploration and extract

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