Analysts Bewildered as Mexico Government Fails to Join Own Call

(Bloomberg) -- Analysts and investors waiting for details of $5.4 billion in peso-denominated government bonds were thrown into confusion after Finance Ministry officials failed to show up for their own call.

The routine call, which was meant to present a bond sale calendar for the coming quarter, took analysts repeatedly to hold music before the Finance Ministry sent out an official email two hours later to reschedule. Yesenia Montano, a ministry official, said that the call failed for technical reasons and that everyone had been ready on their side.

“Due to technical problems that came up during the connection for the fourth quarter of 2019 call, and to avoid any kind of irregularity, the Finance Ministry will reschedule for next Friday,” said the Finance Ministry in an email. “We apologize for the setback.”

But without guidance, those dialing in were annoyed. Multiple analysts who declined to give their names said they tried several times to connect before giving up.

--With assistance from Cyntia Barrera Diaz.

To contact the reporter on this story: Justin Villamil in Mexico City at jvillamil18@bloomberg.net

To contact the editors responsible for this story: Carolina Wilson at cwilson166@bloomberg.net, Dale Quinn

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