Overview
- President Claudia Sheinbaum said Monday that a recent Secretaría de Hacienda study shows the Fobaproa/IPAB liability 'never will finish being paid' because capital remains outstanding while payments mainly service interest.
- Official SHCP figures cited in the study put cumulative interest and administrative costs at about 2.181 trillion pesos by July 2026 and list roughly 1.165 trillion pesos in IPAB pasivos plus 35.9 billion for debtor-support programs.
- IPAB continues to refinance the obligation in markets by issuing Bonos IPAB, with a Q3 2026 auction of about 59.8 billion pesos set against maturities of roughly 74.5 billion pesos, sustaining the debt cycle instead of cutting principal.
- The government reports that budget transfers cover roughly 50 billion pesos to IPAB every two years, a partial interest payment after which remaining interest and principal are rolled into new debt.
- The administration has scheduled a special mañanera where SHCP officials will present the study, trace the rescue’s 1990s origins and the 1999 creation of IPAB, and explain options as Congress considers the 2027 budget.