A reform proposed by Mexican President Andres Manuel Lopez Obrador for retirees to have a pension equal to their final salary will come with a cap on monthly payments, according to a document sent to Mexico's Congress. The draft plan for employees to receive such generous pensions has morphed into one of the stand-out initiatives of Lopez Obrador's sweeping reforms that include judicial, electoral, environmental and other changes. However, the suggestion has raised questions about sustainability and whether Mexico can afford it.
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Cemex, S.A.B. de C.V. announced that it agreed to refinance its bilateral loan with Banco Mercantil del Norte, S.A., Institución De Banca Múltiple, Grupo Financiero Banorte , extending the maturity.