EXPLAINER-Not as bad as it looks? Pemex's $24 bln loss mostly accounting distortion
May 08, 2020 at 12:15 PM EDT
More than 80% of state-owned Pemex's multibillion-dollar loss in the first quarter stemmed from its accounting of a beat-up peso, rather than evaporating cash, but real losses are set to mount unless it modifies pre-coronavirus output plans.